In 2021, the value of exports exceeded that of imports by 175.3 billion euros. In a comparison of 2021 and 2022, the export surplus was thus more than halved.

According to the statistics office, the background to this development was in particular the high cost of importing energy due to the Russian war of aggression in Ukraine. In order to reduce energy imports from Russia as quickly and largely as possible, Germany had to cover its needs from other suppliers at short notice last year, which was sometimes very expensive.

The total value of imports reportedly increased by 24.3 percent compared to 2021. In contrast, the value of exports increased by only 14.3 percent.

For December, the Federal Statistical Office reported an increase of 5.9 percent in exports compared to the previous year. Imports increased accordingly by 3.0 percent.