General

Import and export data shows that Germany's trade volume sharply decreased month on month in March! On May 4th local time, the German Federal Bureau of Statistics released preliminary statistics on the import and export trade volume for March. The import and export data showed an unexpected month on month decline in Germany's import and export trade volume.

According to import and export data from the German Bureau of Statistics, Germany's total import value in March was 113 billion euros, a decrease of 6.4% compared to the previous month. Import and export data showed that the total export value was 129.7 billion euros, a decrease of 5.2% compared to the previous month.

Experts pointed out that Germany's foreign trade unexpectedly suffered serious setbacks in March, with high inflation, rising interest rates, and uncertainty caused by the Ukrainian crisis putting pressure on the export-oriented German economy.

At the same time, the German Chamber of Commerce and Industry has significantly lowered its export growth forecast for this year. The foreign trade director of the German Chamber of Commerce and Industry, Falk Treyer, stated that Germany's exports may only achieve 1% growth in 2023. Import and export data shows that previously, the German Chamber of Commerce and Industry predicted that Germany's export growth this year could reach 2.5%.