German exports to the United States fell by 7.7% in May compared to April, the Federal Statistical Office (Destatis) reported on Tuesday based on preliminary data, reported dpa.
As the trade sector took a hit from tariff uncertainty in the crucial US market. The value of goods amounted to €12.1 billion. This was the lowest value since March 2022.
Compared to the same month last year, May 2024, the decline was even 13.8%.
Overall, German exports in May decreased by 1.4% compared to the previous month, adjusted for calendar and seasonal effects. Imports also fell by 3.8%.
Compared to May 2024, exports increased by 0.4% and imports by 4.2%.
The exported goods, valued at €129.4 billion, significantly exceeded imports of €111.1 billion. The trade surplus grew to €18.4 billion from €15.7 billion in April.
The European Commission is currently in talks with representatives of the US government about future tariff regulations. The US government announced on Monday that it would extend the deadline for imposing new tariffs from July 9 until August 1.
- US
- Germany
- Trade
Source: www.dailyfinland.fi
