Germany's Trade Surplus Grows To $17.7B In January

ANKARA , Mar 3 (UrduPoint / Pakistan Point News - 3rd Mar, 2023 ) :Germany's foreign trade balance posted a �16.7 billion ($17.7 billion) surplus in January, provisional data from Destatis showed on Friday.

The trade surplus grew from �10.0 billion the prior month and �12.1 billion in January 2022.

The country's exports jumped 8.6% year-on-year to �130.6 billion this January while imports increased 5.2% to �113.9 billion.

Germany exported goods worth of �71.9 billion to EU member states, and imported goods to the value of �59.6 billion from the bloc in the month.

The country's shipments to non-EU countries reached �58.

7 billion and imports totaled �54.2 billion.

Most German exports went to the US in January, reaching �12.7 billion. It was followed by China with �7.7 billion and the UK with �6.1 billion.

Germany imported the most from China with �12.7 billion, followed by the US with �8.3 billion and the UK with �3.3 billion.

Exports to Russia amounted to �1 billion in January, surging 12.3% month-on-month but dropping 60% year-on-year.

Imports from Russia decreased 75.1% from last year to �1 billion in January.