In this page: Foreign Trade in Figures | Trade Compliance | Standards
Trade represents 89% of Germany’s GDP (World Bank 2021, up from 81% one year earlier), and the country is both the world’s third-largest importer and exporter. The country is by far the world’s largest exporter of automobiles (with a value of EUR 117.6 in 2021 - Destatis). In 2021, the four largest groups of exported goods made up almost half of the country’s exports: vehicles and vehicle parts (15.3%), machinery (14.2%), chemical products (10%) and computer/electrical and optical equipment (8.8%). The main imported goods were computer/electrical and optical equipment (10.7%), vehicles and vehicle parts (9.5%), chemical products (7.8%), machinery (7.6%), electrical equipment (6.9%) and metals (6.4% - BMWi).
In 2021, Germany’s primary trade partner was the European Union which accounted for 67.5% of exports and 65.6% of imports (BMWi). Accounting for 8.9% of German exports, the U.S. remained Germany’s most important export market in 2021, followed closely by China (7.6%), France (7.4%) and the Netherlands (6.6%). Imports came chiefly from China (11.9%), ahead of the Netherlands and the U.S. (7.6% and 6.1%, respectively). Germany continues to be the “most open” economy of the G7 countries.
The country’s trade balance is structurally positive: according to the latest figures from the national statistical office Destatis, Germany’s surplus on the trade of goods declined for the fifth consecutive year, falling to EUR172.5 billion (was EUR 180.4 billion in 2020); 62.9% of the overall trade surplus was with the EU-27, with the eurozone accounting for a share of 46.5%. In regards to Germany’s vast trade surplus, since 2014 the European Commission has encouraged the country to favour internal demand dynamics instead of exports, in order to mitigate the existing “macroeconomic imbalance” in the EU (as per the Commission rules, EU countries should not have an external trade surplus of more than 6% of their GDP). Data from the Federal Ministry for Economic Affairs shows that in 2021 the country exported goods worth USD 1.370 billion (an increase of 15.2% year-on-year), importing a total of USD 1.180 billion (+18%). Germany is generally a net importer of commercial services: in 2021, however, the country exported USD 319.7 billion worth of services, while imports were slightly lower, at USD 317.3 billion.
In 2022, the German export surplus was at its lowest level since 2000 as it went down by more than half to EUR 79.7 billion from EUR 175.3 billion one year earlier, mostly due to the steep rise in the cost of energy imports (Destatis).
Foreign Trade Values | 2018 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|
Imports of Goods (million USD) | 1,284,353 | 1,233,978 | 1,171,782 | 1,421,512 | 1,570,752 |
Exports of Goods (million USD) | 1,560,539 | 1,489,412 | 1,382,533 | 1,636,742 | 1,657,577 |
Imports of Services (million USD) | 376,130 | 376,540 | 315,457 | 387,181 | 459,231 |
Exports of Services (million USD) | 357,464 | 356,277 | 318,570 | 387,553 | 411,761 |
Source: World Trade Organisation (WTO), Latest data available.
Foreign Trade Indicators | 2018 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|
Foreign Trade (in % of GDP) | 88.5 | 87.7 | 80.4 | 88.7 | 98.6 |
Trade Balance (million USD) | 263,292 | 245,868 | 219,238 | 230,563 | 118,588 |
Trade Balance (Including Service) (million USD) | 244,736 | 230,802 | 227,764 | 236,609 | 87,555 |
Imports of Goods and Services (Annual % Change) | 4.0 | 2.9 | -8.5 | 9.0 | 6.0 |
Exports of Goods and Services (Annual % Change) | 2.2 | 1.3 | -9.3 | 9.7 | 2.9 |
Imports of Goods and Services (in % of GDP) | 41.2 | 41.0 | 37.4 | 41.7 | 48.3 |
Exports of Goods and Services (in % of GDP) | 47.3 | 46.7 | 43.0 | 47.0 | 50.3 |
Source: World Bank, Latest data available.
Foreign Trade Forecasts | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) | 2027 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 0.9 | 3.5 | 3.5 | 3.4 | 3.1 |
Volume of imports of goods and services (Annual % change) | 0.2 | 3.5 | 3.8 | 3.4 | 3.4 |
Source: IMF, World Economic Outlook, Latest data available.
Note: (e) Estimated Data
Main Customers (% of Exports) |
2022 |
---|---|
United States | 9.9% |
France | 7.3% |
Netherlands | 6.8% |
China | 6.8% |
Poland | 5.7% |
See More Countries | 63.4% |
Main Suppliers (% of Imports) |
2022 |
---|---|
China | 13.0% |
Netherlands | 7.6% |
United States | 6.2% |
Poland | 5.2% |
Italy | 4.8% |
See More Countries | 63.2% |
Source: UN Comtrade Database, Latest data available.
Source: UN Comtrade Database, Latest data available.
To go further, check out our service Import/Export Flows.
Source: United Nations Statistics Division, Latest data available.
Monetary Indicators | 2016 | 2017 | 2018 | 2019 | 2020 |
---|---|---|---|---|---|
Euro (EUR) - Average Annual Exchange Rate For 1 MAD | 0.10 | 0.09 | 0.09 | 0.09 | 0.09 |
Source: World Bank, Latest data available.
Find out all the exchange rates daily on our service Currency Converter.
In the case of temporary export within the EU, the ATA carnet and the Community carnet are no longer necessary. It is enough to keep a register listing the temporary shipments.
Concerning transport, no transport documents are required for intracommunity trade.
However, in the case of goods transiting or destined for one of the EFTA countries (Iceland, Norway, Liechtenstein and Switzerland), form T2 should be produced or a copy A (computerized transit). In the same way, goods transiting or destined for the Channel Islands or the Canaries must be accompanied by form T2F.
For a transaction outside the Community, you must add:
- Import licenses
- Certifications
- Single Customs Document (SAD)
- Health certificate
To go further, check out our service Shipping Documents.
At the International level:
- International Standards Organisation (ISO)
- International Electrotechnical Commission (IEC)
- International Telecommunication Union (ITU)
German standards are often used as the basis for the European standardisation system.
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Latest Update: November 2023