Germany’s exports have declined in the first half of the year compared to the same period last year. Automotive exports fell by 2.4 percent, while machinery exports dropped by 4.4 percent. The order backlog in German industry is also on the decline.
Germany’s exports shrank by 1.6 percent in the first half of 2024 compared to the previous year, according to the Federal Statistical Office in Wiesbaden, which reported the figures on August 19. Imports also saw a significant decrease, falling by 6.2 percent from January to June.
The total value of German exports in the first half of the year amounted to €801.7 billion, the statistics office reported. The leading export goods were motor vehicles and motor vehicle parts, valued at €135.3 billion. However, automotive exports saw a 2.4 percent decline compared to the same period last year. Machinery exports also decreased by 4.4 percent, as did the export of chemical products.
As in previous years, the United States remained the top destination for German exports from January to June, with goods valued at €80.7 billion. France and the Netherlands followed in second and third place, respectively. Notably, Poland ranked fourth as a key export destination, overtaking China.
Imports to Germany continued to come primarily from China, with a total value of €73.5 billion. The Netherlands ranked second, followed by the United States. The value of exports in the first half of the year exceeded that of imports, resulting in a trade surplus of €138.8 billion, nearly 29 percent higher than in the first half of 2023.
Order backlog in German industry continues to shrink
The German industry is also experiencing a general decline in incoming orders. For the sixth consecutive month, the order backlog in the manufacturing sector decreased in June, as reported by the Federal Statistical Office. The inflation-adjusted value of outstanding orders was 0.2 percent lower than in May and 6.2 percent below the level of the same month last year.
The decline in order backlogs was particularly noticeable in key sectors such as mechanical engineering (-0.9 percent from the previous month) and the automotive industry (-0.7 percent from the previous month). For the auto sector, the largest in German industry, this marked the 17th consecutive monthly decline.
However, the order backlog from domestic customers increased by 0.6 percent in June, marking the first rise since February. In contrast, the backlog of orders from abroad fell by 0.7 percent.
