Germany is the 2nd largest export economy in the world and the 3rd most complex economy. Germany exported $1.33T, making it the 2nd largest exporter in the world. Germany imported $1.08T, making it the 3rd largest importer in the world. The country is divided into 16 mainly autonomous states with each one having its own constitution. Much of Germany’s exports focuses on industrially produced goods and services. In particular German mechanical engineering products, vehicles, and chemicals are highly valued internationally.
Most of the goods imported to Germany originated from the Netherlands. Germany imported goods worth 86.6 billion euro from the Netherlands (9.5 percent of total German imports), with China and France accounting for the next highest imports.
Imports to Germany dropped 4.4 percent from a year earlier to EUR 89.3 billion in June 2019. Purchases from the EU decreased 1.1 percent to EUR 53.3 billion, of which Euro area (-0.3 percent to EUR 35 billion) and non-Euro area countries (-2.7 percent to EUR 18.3 billion). Also, arrivals from countries outside the EU fell 8.9 percent to EUR 36 billion. Imports in Germany averaged 26756.28 EUR Million from 1950 until 2019, reaching an all time high of 98535.29 EUR Million in October of 2018 and a record low of 346.78 EUR Million in May of 1950.
Imports in Germany is expected to be 86600.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Germany to stand at 90100.00 in 12 months time. In the long-term, the Germany Imports is projected to trend around 88900.00 EUR Million in 2020.
Exports from Germany plunged 8 percent year-on-year to EUR 106.1 billion in June 2019. Sales to the EU dropped 6.2 percent to EUR 63.5 billion, of which Euro area (-5.6 percent to EUR 40.6 billion) and non-Euro area countries (-7.2 percent to EUR 23 billion). In addition, exports to countries outside the EU slumped 10.7 percent to EUR 42.6 billion. Exports in Germany averaged 32157.58 EUR Million from 1950 until 2019, reaching an all time high of 118235 EUR Million in March of 2019 and a record low of 226.39 EUR Million in January of 1950.
Exports in Germany is expected to be 103800.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Germany to stand at 107500.00 in 12 months time. In the long-term, the Germany Exports is projected to trend around 95700.00 EUR Million in 2020
Germany is the third largest exporter in the world, with exports accounting for almost an half of its economic output. In 2017, Germany main exports were: motor vehicles, trailers and semi-trailers (18 percent of total exports); machinery and equipment (14 percent); chemicals and chemical products (9 percent); computer, electronic and optical products (9 percent); electrical equipment (6 percent); basic pharmaceutical products and pharmaceutical preparations (6 percent); other transport equipment (5 percent); food products (4 percent); basic metals (4 percent); and rubber and plastic products (4 percent). Main export partners were: the US (9 percent of the total exports), France (8 percent), China, the UK and the Netherlands (7 percent each), Italy, Austria and Poland (5 percent each), Switzerland (4 percent) and Belgium, Spain and Czech Republic (3 percent each).
