Germany’s trade deficit hit 1B in May

Germany’s seasonally adjusted deficit was about 1 billion euros in the previous May, down from the revised figure in April of 3.1 billion euros, according to data released on Monday.

Exports in Germany amounted to about 125.8 billion euros, down 0.5% on a monthly basis, but increased by 11.7% compared to May 2021. Exports to the European Union amounted to 67.5 billion euros, while exports to other countries amounted to 58.3 billion euros.

Meanwhile, imports into Germany increased by 2.7% month-on-month and jumped 27.8% year-on-year to 126.7 billion euros, of which 61.8 billion euros were from the European Union. Imports from other countries amounted to 65 billion euros.