Data published by the Federal Statistical Office (Destatis) showed that in December exports to countries outside the European Union fell by 4.0% m/m, to 57.2 billion euros. Meanwhile, in annual terms, exports to non-EU countries decreased by 9.2%. Trade with non-EU countries accounts for just under half of all German exports.
Destatis said that exports to the United States fell by 9.9% compared to December 2022, to 11.2 billion euros. However, the United States remained the most important trading partner of German exporters. Meanwhile, exports to China decreased by 12.7% per annum, to 7.2 billion euros, and exports to the UK increased by 19.7% per annum, to 6.0 billion euros. German exports to Russia fell by 32.3% to 0.6 billion euros. As a result, Russia ranked 20th among the most important destination countries for German exports (outside the EU).
According to forecasts by the IfW Economic Institute, total German exports fell by 1.4% in 2023 and are likely to remain at the same level in 2024.