German exports to non-EU countries fell in May 2024

In May 2024, exports of German goods to third countries fell by 6.4% compared to the previous month. The USA remains the most important trading partner, while exports to Russia fell sharply

Wiesbaden, June 20 24 - In May 2024, German exports to countries outside the European Union fell sharply. According to the Federal Statistical Office (Destatis), calendar and seasonally adjusted goods worth 58.6 billion euros were exported to third countries. This corresponds to a decline of 6.4% compared to April 2024. Exports fell by 2.3% compared to May 2023.

Unadjusted, the value of exports in May 2024 was €56.7 billion, a decrease of 4.9% compared to the same month last year.

Main markets

The United States remained Germany's most important trading partner. In May 2024, goods worth EUR 13.0 billion were exported there, an increase of 4.1% compared to May 2023.

Exports to China fell to €7.5 billion, a decrease of 14.0% compared to the previous year. Exports to the United Kingdom also fell by 1.7% to 6.3 billion euros.

Sharp decline in exports to Russia

The decline in exports to Russia was particularly drastic. These fell by 24.9% compared to the same month last year and only reached a value of 0.5 billion euros. As a result, Russia fell to 19th place among the most important export countries outside the EU. Before the attack on Ukraine in February 2022, Russia was still in 5th place.

Further developments

Other trading partners also recorded declines. Exports to Turkey fell by 17.6% to 2.2 billion euros, to South Korea by 3.2% to 1.5 billion euros and to Japan by 10.8% to 1.5 billion euros. Exports to Brazil developed positively, rising by 17.6% to 1.2 billion euros.

Background information

The Federal Statistical Office publishes preliminary results for exports to third countries around 20 to 23 days after the end of the month. These data are an important early indicator of economic development, although they do not always run parallel to exports to EU countries. The detailed results of the foreign trade statistics for May 2024 will be published in July 2024.