Press release No. 010 of 8 January 2021
Exports, November 2020
111.7 billion euros
+2.2% on the previous month (calendar and seasonally adjusted)
-1.3% on the same month a year earlier
Imports, November 2020
94.6 billion euros
+4.7% on the previous month (calendar and seasonally adjusted)
-0.1% on the same month a year earlier
Foreign trade balance, November 2020:
17.2 billion euros
16.4 billion euros (calendar and seasonally adjusted)
Current account according to calculations of the Deutsche Bundesbank, November 2020
21.3 billion euros
WIESBADEN – In November 2020, German exports were up 2.2%, and imports 4.7%, on October 2020 after calendar and seasonal adjustment. Based on provisional data, the Federal Statistical Office (Destatis) also reports that, after calendar and seasonal adjustment, exports were by 4.7%, and imports by 0.6%, lower than in February 2020, the month before restrictions were imposed due to the corona pandemic in Germany.
Germany exported goods to the value of 111.7 billion euros and imported goods to the value of 94.6 billion euros in November 2020. Compared with November 2019, exports decreased by 1.3%, and imports by 0.1%, in November 2020.
The foreign trade balance showed a surplus of 17.2 billion euros in November 2020. In November 2019, the surplus amounted to 18.5 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 16.4 billion euros in November 2020.
The German current account of the balance of payments showed a surplus of 21.3 billion euros in November 2020, which takes into account the balances of trade in goods (+18.5 billion euros), services (+1.9 billion euros), primary income (+8.2 billion euros) and secondary income (-7.5 billion euros). In November 2019, the German current account showed a surplus of 23.5 billion euros.
Trade with EU countries
In November 2020, Germany exported goods to the value of 59.5 billion euros to the Member States of the European Union (EU), while it imported goods to the value of 51.7 billion euros from those countries. Compared with November 2019, exports to EU countries decreased by 1.7%, and imports from those countries grew by 2.6%. Goods to the value of 41.1 billion euros (-2.2%) were exported to euro area countries in November 2020, while the value of goods imported from those countries was 34.3 billion euros (+0.5%). In November 2020, goods to the value of 18.5 billion euros (-0.7%) were exported to EU countries not belonging to the euro area, while the value of goods imported from those countries was 17.4 billion euros (+6.9%).
Trade with non-EU countries
Exports of goods to countries outside the European Union (third countries) amounted to 52.2 billion euros in November 2020, while imports from those countries totalled 42.9 billion euros. Compared with November 2019, exports to third countries declined by 0.9% and imports from those countries by 3.2%.
Trade with the United Kingdom
Exports to the United Kingdom increased by 6.6% to 6.5 billion euros in November 2020 compared with the same month a year earlier, while German imports from the United Kingdom dropped by 9.7% to 3.1 billion euros.
Following a transitional period until the end of 2020, the partnership agreement negotiated between the EU and the United Kingdom took provisional effect on 1 January 2021. As the United Kingdom has left the EU single market and the customs union, its withdrawal from the EU has now been completed. More information on the Brexit and a selection of statistical indicators that are assumed to be affected by the Brexit are provided by the Brexit Monitor of the Federal Statistical Office.
Impact of the coronavirus pandemic on trade with other countries
The degree to which the year-on-year development of exports was affected differed among other selected trading partners. Exports to the People's Republic of China increased by 14.3% to 9.3 billion euros in November 2020 compared with November 2019, while exports to the United States dropped by 3.1% to 9.6 billion euros.
In November 2020, most imports came to Germany from the People's Republic of China. Goods to the value of 10.4 billion euros were imported from there (+5.4% on the same month a year earlier). Imports from the United States fell by 1.5% to 5.8 billion euros in November 2020.
Methodological note:
The differing comparative periods must be taken into account in all press releases on short-term indicators. Short-term economic monitoring focuses on comparisons with the previous month or previous quarter. These reflect short-term economic trends. A comparison with the previous year is intended to offer a long-term comparison of levels and is not subject to seasonal fluctuations. During the current coronavirus crisis, the strong decreases especially in March/April 2020 and the emerging recovery may produce highly different results for the comparison with the previous month/previous quarter and the comparison with the previous year. Both of the two perspectives are important: what is the short-term economic trend compared with the previous month/previous quarter, and how far has the catching-up process gone compared with the previous year’s level? In order to provide also a direct comparison with the pre-crisis level, all press releases on short-term indicators available in seasonally adjusted form will, for the time being, include a comparison with February 2020 or the 4th quarter of 2019.
| Item | November | January to November | October | November | January to November |
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| 1 According to calculations of the Deutsche Bundesbank. | |||||
| Foreign trade | |||||
| 1 Exports (f.o.b.) | 111.7 | 1,103.9 | 112.1 | 113.2 | 1,230.1 |
| 2 Imports (c.i.f.) | 94.6 | 938.8 | 92.7 | 94.7 | 1,021.2 |
| 3 Foreign trade balance (1-2) | 17.2 | 165.2 | 19.4 | 18.5 | 208.9 |
| Transition to trade in goods 1 | |||||
| 4 Supplementary trade items | 1.4 | 12.7 | 0.9 | -0.7 | 0.2 |
| Current account balances 1 | |||||
| 5 Trade in goods (3+4) | 18.5 | 177.9 | 20.3 | 17.9 | 209.0 |
| 6 Services | 1.9 | -2.6 | -0.4 | 0.5 | -24.4 |
| 7 Primary income | 8.2 | 78.1 | 7.2 | 8.7 | 78.3 |
| 8 Secondary income | -7.5 | -44.8 | -4.3 | -3.6 | -43.4 |
| Current account (5+6+7+8) | 21.3 | 208.5 | 22.9 | 23.5 | 219.5 |
| Item | November 2020 | January to November 2020 | Percentage change from | |
|---|---|---|---|---|
| November 2019 | January to November 2019 | |||
| billion euro | % | |||
| Total exports | 111.7 | 1,103.9 | -1.3 | -10.3 |
| including: | ||||
| EU Member States | 59.5 | 582.8 | -1.7 | -10.2 |
| Euro-zone | 41.1 | 404.9 | -2.2 | -11.5 |
| Non-euro-zone | 18.5 | 177.9 | -0.7 | -7.0 |
| Third countries | 52.2 | 521.1 | -0.9 | -10.3 |
| including: | ||||
| United Kingdom | 6.5 | 61.9 | 6.6 | -16.3 |
| Total imports | 94.6 | 938.8 | -0.1 | -8.1 |
| including: | ||||
| EU Member States | 51.7 | 501.3 | 2.6 | -8.8 |
| Euro-zone | 34.3 | 341.8 | 0.5 | -10.0 |
| Non-euro-zone | 17.4 | 159.5 | 6.9 | -6.2 |
| Third countries | 42.9 | 437.5 | -3.2 | -7.2 |
| including: | ||||
| United Kingdom | 3.1 | 31.9 | -9.7 | -9.4 |
| Year | Month | Exports | Imports | ||||||
|---|---|---|---|---|---|---|---|---|---|
| original value | calendar and seasonally adjusted value 1 | original value | calendar and seasonally adjusted value 1 | ||||||
| value in billion euros | change on the same month of the previous year in % | value in billion euros | change on previous month in % | value in billion euros | change on the same month of the previous year in % | value in billion euros | change on previous month in % | ||
| 1 Using J-DEMETRA+ (X-13 ARIMA). | |||||||||
| 2019 | January | 108.9 | 1.7 | 112.2 | 0.3 | 94.2 | 5.2 | 93.2 | 0.9 |
| February | 108.8 | 3.9 | 110.8 | -1.3 | 91.1 | 5.8 | 92.8 | -0.4 | |
| March | 118.2 | 1.8 | 112.4 | 1.5 | 95.8 | 5.2 | 92.9 | 0.1 | |
| April | 110.0 | -0.3 | 109.7 | -2.4 | 92.1 | 2.5 | 92.1 | -0.9 | |
| May | 114.2 | 4.8 | 110.4 | 0.6 | 93.5 | 5.0 | 92.1 | -0.0 | |
| June | 106.2 | -7.9 | 111.0 | 0.5 | 89.5 | -4.1 | 93.0 | 0.9 | |
| July | 115.0 | 3.6 | 110.8 | -0.1 | 93.7 | -1.0 | 91.7 | -1.3 | |
| August | 101.6 | -3.6 | 110.3 | -0.5 | 85.1 | -3.0 | 91.0 | -0.8 | |
| September | 114.1 | 4.6 | 111.2 | 0.9 | 93.0 | 2.2 | 91.7 | 0.8 | |
| October | 119.8 | 2.1 | 112.7 | 1.3 | 98.4 | -0.1 | 92.4 | 0.8 | |
| November | 113.2 | -2.6 | 110.9 | -1.6 | 94.7 | -1.5 | 92.2 | -0.2 | |
| December | 98.1 | 2.4 | 111.0 | 0.0 | 82.9 | 1.4 | 91.8 | -0.4 | |
| 2020 | January | 106.6 | -2.1 | 111.1 | 0.1 | 92.9 | -1.4 | 92.5 | 0.7 |
| February | 109.2 | 0.3 | 112.5 | 1.3 | 88.9 | -2.4 | 91.3 | -1.2 | |
| March | 108.9 | -7.9 | 99.3 | -11.8 | 91.7 | -4.3 | 86.6 | -5.2 | |
| April | 75.7 | -31.1 | 75.7 | -23.8 | 72.3 | -21.6 | 72.3 | -16.5 | |
| May | 80.2 | -29.8 | 82.2 | 8.6 | 73.3 | -21.6 | 75.1 | 3.9 | |
| June | 96.0 | -9.5 | 94.7 | 15.2 | 80.6 | -9.9 | 80.7 | 7.5 | |
| July | 102.3 | -11.0 | 98.8 | 4.3 | 83.1 | -11.3 | 81.4 | 0.9 | |
| August | 91.3 | -10.2 | 101.6 | 2.9 | 79.4 | -6.7 | 86.3 | 5.9 | |
| September | 109.8 | -3.8 | 103.9 | 2.3 | 89.2 | -4.0 | 86.3 | 0.1 | |
| October | 112.1 | -6.4 | 104.9 | 0.9 | 92.7 | -5.8 | 86.7 | 0.4 | |
| November | 111.7 | -1.3 | 107.2 | 2.2 | 94.6 | -0.1 | 90.8 | 4.7 | |
First detailed provisional results (only in German) by country of origin/country of destination and by chapter of the Commodity Classification for Foreign Trade Statistics as well as a comparative table based on the country of origin/country of consignment concepts are available for downloading.
