Germany, for the first time since reunification

Luzi

Germany has always been a large exporter, but in the context of energy increase and inflation, Germany also had a trade deficit in May. This is the first monthly trade deficit in Germany for more than 30 years.

According to the British "Guardian" reported on the 4th, data from German statistics agencies show that in May, Germany's imports surged and exports declined slightly. This caused a trade deficit of about 1 billion euros in the largest European economy that month.

Bloomberg emphasized that this is the first time in Germany's unification in 1990.

"Guardian" report screenshot

The exports of Germany fell by 0.5%year -on -year to 125.8 billion euros, while imports increased by 2.7%to more than 126.7 billion euros. Compared with the same period last year, exports have increased by nearly 12%, but the imports are almost 30%.

Germany's dominant manufacturing base is facing the problem of global supply chain destruction, and soaring energy prices and weak commodity demand are also cracking down on exports. According to the data released last Friday, the euro zone manufacturing output in June has fallen for the first time since the blockade in 2020, which shows that the overall economic situation of the euro zone is deteriorating.

According to the latest trade data, the prices of imported goods such as energy, food and industrial parts have increased by more than 30%compared with the same period last year, while the price of export products in Germany is only 15%.

The report of the Guardian emphasized that the Russian -Ukraine conflict has pushed up the energy prices of the entire Europe, pushed the inflation, and affected many energy demand for trade balances that rely on imported oil and natural gas. Taking the United Kingdom as an example, its frequent account deficit has soared in the first quarter of this year to the highest level since the 1950s. In contrast, Russia's frequent account surplus increased by more than four months this year, reaching at least the highest level since 1994.

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