Germany's Trade Surplus Climbs in March

In a surprising turn of events, Germany's calendar and seasonally adjusted foreign trade surplus reached €21.1 billion in March, marking a significant increase from February's €17.7 billion. This figure, reported by Destatis on Thursday, surpassed analysts' forecasts, highlighting the robustness of Germany's export-driven economy.

Exports and Imports: A Detailed Look

Exports saw a 1.1% month-on-month increase, totaling €133.2 billion, and a 2.3% rise compared to March 2024. The European Union received €72.3 billion of these exports, with the United States being the primary destination for the remaining €55.2 billion destined for third countries.

Imports, on the other hand, experienced a 1.4% decrease month on month but a 2.3% year-on-year increase, reaching €112.1 billion. The EU contributed €56.9 billion to these imports, with China leading as the main source for the €55.2 billion imported from third countries.

Non-Seasonally Adjusted Figures

Additionally, the non-seasonally adjusted foreign trade surplus was reported at €23.3 billion for March, further underscoring the strength of Germany's trade performance.