Trade balance

Wirtschaftab 13 J.

The difference between a country's exports and imports. Germany is an export champion with a surplus of more than €200 billion a year – it exports much more than it imports.

The trade balance (Handelsbilanz) shows the difference between the value of all goods a country exports and imports.

Calculation:

Trade balance = exports − imports

• Positive (surplus): the country exports more than it imports (e.g. Germany, China)
• Negative (deficit): the country imports more than it exports (e.g. USA, UK)

Germany as an exporting nation:

• Exports 2024: approx. 1.58 trillion euros
• Imports 2024: approx. 1.35 trillion euros
• Trade surplus: approx. 230 billion euros

Most important trading partners (exports):

• 1. USA: ~€160 bn (largest single customer)
• 2. France: ~€115 bn
• 3. Netherlands: ~€105 bn
• 4. China: ~€95 bn
• 5. Austria/Poland: ~€80–85 bn

What does Germany export?

• Cars: ~€250 bn (VW, BMW, Mercedes, Porsche)
• Machinery: ~€200 bn
• Chemicals/pharma: ~€140 bn
• Electrical engineering: ~€120 bn

Criticism of the trade surplus:

Other countries (especially the USA and EU partners) criticise Germany's high surplus: it means Germany saves more than it invests and domestic demand is too weak. The EU recommends higher investment and wages.

Did you know? In 2024 Germany had a trade surplus for the 28th year in a row. That sounds positive, but it is criticised internationally: the surplus means German consumers and the state spend and invest too little.

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