Facts about German foreign trade in 2014*

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1 Facts about German foreign trade in 2014* Foreign Trade Figures in 2014 Exports Imports Net foreign demand Total Goods Services Total Goods Services Total in billion EUR Year-on-year change in billion EUR of GDP Source: Federal Statistical Office of Germany zin 2014, Germany could keep its position as the world s third largest exporter (behind China, USA), and third largest importer (behind USA, China). zgermany s share of world trade (exports and imports in USD) increased to 7.2% in China s world trade shares were 11.3% (2013: 11.0%) and USA s settled at 10.6% (2013: 10.4%). zthe export ratio (i.e. exports percentage share of GDP) increased slightly to 45.7% in 2014 and the import ratio fell to 39.1%. The degree of openness (imports plus exports in relation to GDP) stood at 84.8%. Thus, Germany is the most open econ-omy of all G7 countries. ztrade surplus increased to billion in 2014 i.e. 6.5% in relation to GDP (2013: 5.8%). However, the trade surplus contributed to GDP by 0.4 percentage points (GDP +1.6%). zin 2014, the current account, comprising the balances of cross-border trade in goods (trade balance), cross-border trade in services (services balance) and cross-border payments arising from employment and assets (income balance) and current transfers shared a surplus of or 7.4% of GDP. zgermany s main trading partners were again pean countries, which received 68.0% of German exports and from which 71.0% of German imports originated. Trade with other EU countries accounted for 58.0% of exports and for 58.2% of imports. The shares of trade with the area totalled 36.6% of exports and 38.3% of imports. zthe leading sales markets for German goods outside the EU were the USA (8,5%) and China (6.6%). Likewise, the leading suppliers from outside the EU were China (8.7%) and USA (5.3%), too. zthe proportion of goods in total exports (goods and services) stood at 84.4% and at 78.2% in all imports. * Berlin, May 2015

2 zthe largest shares of exports represented vehicles and vehicle parts (17.9%), machinery (14.5%), chemical products (9.4%) and computer/electronic equipment (7.9%). The main imported goods were computer/electronic equipment (9.7%), cars and car parts (9.4%) and oil (9.0%). zgermany recorded a trade surplus in the trade of goods of billion (up 22.0 billion from 2013). A total of billion ( billion) was with other EU countries, of which billion (+ 2.7 billion) was with the area countries. Exports to the EU worth billion (of which billion went to the area countries) were offset against imports worth ( area: 352.6) billion. zas in previous years, the German surplus on trade in goods was opposed by a deficit on trade in services of 50.0 billion (2013: 45.6 billion). za quarter of total employment depends directly or indirectly on exports (1995: 15%). In the industrial sector, the ratio is even one in two jobs (55%), but in the services sector only one in seven (15%). 1 zone third of final domestic demand is covered by imports (import dependency ratio of 34.1%). In the case of exports, the share of imported upstream goods is significantly higher, at 43% (1995: 30%). The bulk of German imports, though, stems from pean neighbour countries. zonly a bit more than half (57.2%) of the total German trade surplus is due to the export surplus in relation to the other 28 EU countries. Nearby a third of the surplus (29.8%) was attributed to the rest of the area. zgermany recorded the largest trade surplus in relation to the USA ( billion or 21.9%), United Kingdom ( billion or 19.3%), France ( billion or 15.9%), Austria ( billion or 9.1%) and UAE ( billion or 4.9%). Germany s highest deficits in the trade of goods were with the Netherlands ( billion or 6.9%), Norway ( billion or 5.0), Russia (- 9.1 billion or 4.2%), the People s Republic of China (- 5.0 billion or 2.3%) and Vietnam (- 4.1 billion or 1.9%). 1 According to the latest available input-output-calculation from september

3 Exports and imports in current prices Year Exports Imports Net exports Total Goods Services Total Goods Services Total memorandum items vis-à-vis EU member states vis-à-vis third countries Billion EUR Year-on-year change in billion EUR

4 Year Exports Imports Net exports Total Goods Services Total Goods Services Total memorandum items vis-à-vis EU member states of GDP vis-à-vis third countries Source: Federal Statistical Office Ranking of the 10 largest trade nations (goods) Exports Imports Ranking Country bln. US-$ Ranking Country bln. US-$ 1 PR China USA USA PR China Germany Germany Japan Japan Netherlands France France United States South Korea Netherlands Italy South Korea United Kingdom Italy Russia India memorandum item memorandum item EU EU Thereof: EU-Extra trade Thereof: EU-Extra trade EU-Intra Trade EU-Intra Trade Source: WTO 4

5 Figure 1: s of world trade (goods) - Exports and Imports on a USD basis China 10 USA in percent 8 6 Germany Japan France Italy United Kingdom India Argentina Brasil Source: WTO; own calculations Figure 2: Gross domestic product and contributions to growth in percent Net foreign demand Domestic use Gross domestic product (year-on-year change) Source: Federal Statistical Office of Germany; own calculations 5

6 Figure 3: Germanys net trade by regions (goods) in bln Net trade vis-a-vis EU 28 Net trade vis-a-vis Area Net trade ROW Net trade Source: Federal Statistical Office of Germany; own calculations Figure 4: Degree of openness Exports plus imports in relation to GDP in in percent Belgium Netherlands Switzerland 1 without Croatia, 2 Data for 2013 Austria Denmark Germany EU-27 1 Canada United Kingdom France Italy India 2 Russia 2 China 2 Japan USA Brazil 2 Sources: DG ECFIN/AMECO, World Bank/WDI, own calculations 6

7 Figure 5: Service sector value added of gross exports Direct and indirect value added of gross exporte in percent of gross exports United Kingdom Belgium EU-27 Denmark India Austria France Switzerland USA Germany Italy Netherlands Japan Canada Brazil Russia China Domestic service industry value added content of gross exports Foreign services value added content of gross exports 1995 Source: OECD 7

8 Figure 6: Changes in export shares of German exporters Jan.-Dec. compared to Jan.-Dec (in percentage points) acoording to regions Asia North America Mideast and North Africa Sub-Sahara Africa Australia and Oceania Central and South America pe according to countries United Kingdom PR China Poland USA Spain Ukraine Austria Switzerland Turkey Russia according to groups of countries EU-28 OECD G20 OPEC GCC G8 Area BRICS GUS Source: Federal Statistical Office of Germany 8

9 Figure 7: Changes in import shares of German importers Jan.-Dec. compared to Jan.-Dec (in percentage points) acoording to regions pe Asia Australia and Oceania Sub-Sahara Africa Central and South America North America Mideast and North Africa according to countries PR China Czech Republic Poland France Hungary Austria Netherlands Libya Norway Russia according to groups of countries G20 OECD Area BRICS GCC GUS OPEC G Source: Federal Statistical Office of Germany 9

10 Figure 8: Exports of the 10 most important groups of goods in 2014 Vehicles and vehicle parts Machinery Chemical products Comp./electr. and optical equipment Electronic equipment Pharmaceutical and related products Other vehicles Metals Food and fodder Rubber and plastic goods in total goods exports 17.9 % 14.5 % 9.4 % 7.9 % 6.0 % 5.4 % 4.5 % 4.4 % 4.3 % 3.5 % Source: Federal Statistical Office of Germany; own calculations in billion Figure 9: Imports of the 10 most important groups of goods in 2014 Comp./electr. and optical equipment Vehicles and vehicle parts Oil Chemical products Machinery Metals Electronic equipment Food and fodder Pharmaceutical related other products Other vehicles in total goods imports 9.7 % 9.4 % 9.0 % 8.0 % 7.6 % 5.5 % 5.2 % 4.4 % 4.4 % 4.0 % Source: Federal Statistical Office of Germany; own calculations in billion 10

11 Figure 10: Exports and Imports in 2014 by regions Exports Total: 1,133.5 billion Imports Total: billion Asia without China 10.3 % China 6.6 % Australia/Oceania 0.8 % Area 36.6 % Asia without China 9.8 % China 8.7 % Australia/Oceania 0.3 % Area 38.3 % USA 8.5 % USA 5.3 % America without USA 3.5 % Africa 2.0 % pa without EU (including CH, RUS, TUR) 10.0 % America without USA 2.7 % Africa 2.2 % pa without EU (including CH, RUS, TUR) 12.8 % EU without Area 21.4 % EU without Area 19.9 % Source: Federal Statistical Office of Germany; own calculations Figure 11: Exports and Imports in 2014 according to groups of goods Exports Total: 1,133.5 billion Imports Total: billion Consumer Goods 14.0 % Durable Goods 2.8 % Other Goods 5.4 % Energy 2.6 % Agricultural Goods 0.9 % Intermediate Goods 30.1 % Other Goods 6.8 % Energy 12.6 % Consumer Goods 15.7 % Agricultural Goods 3.1 % Intermediate Goods 28.9 % Durable Goods 4.0 % Capital Goods 44.3 % Capital Goods 28.9 % Source: Federal Statistical Office of Germany; own calculations 11

12 Ranking of Germany s foreign trade partners (2014) Pos. Exports Pos. Imports Pos. Turnover Pos. Foreign trade balance (surplus) Pos. Foreign trade balance (deficit) 1 France Netherlands France USA Netherlands USA PR China Netherlands United Kingdom Norway United Kingdom France PR China France Russian Foderation PR China USA USA Australien PR China Netherlands Italy United Kingdom United Arab Emirates Vietnam Austria United Kingdom Italy Spain Ireland Italy Belgium Austria Saudi Arabia Czech Republic Poland Poland Poland Poland Bangladesh Switzerland Switzerland Switzerland South Korea Kazakhstan Belgium Russian Federation Belgium Sweden Nigeria Spain Czeck Republic Czeck Republic Switzerland Hungary Czech Republic Austria Russian Foderation Turkey Japan Russian Federation Spain Spain Italy Slovakia Sweden Hungary Hungary Australia Azerbeijan Hungary Norway Japan Mexico Malaysia Turkey Japan Sweden Denmark Libya Japan Sweden Turkey Canada Mazedonia Denmark Turkey Denmark Hong Kong Cambodia South Korea Slovakia Norway South Africa Slovenia United Arab Emirates Denmark Slovakia Greece Cote d'ivoire Slovakia Romania South Korea Israel Philippines Romania Brazil Romania Belgium Thailand Brazil Ireland Brazil Luxembourg Indonesia Mexico South Korea Finland Iran Pakistan India Finland India Ukraine Costa Rica Saudi Arabia Taiwan Ireland India Tunesia

13 Ranking of Germany s foreign trade partners (2014) contin. Pos. Exports Pos. Imports Pos. Turnover Pos. Foreign trade balance (surplus) Pos. Foreign trade balance (deficit) 27 Finland India Taiwan Portugal Papua New Guinea Canada Malaysia South Africa Finland Sri Lanka Norway Viet Nam Mexico Qatar Peru South Africa Portugal Canada Egypt Honduras Australia Singapore Portugal Kuwait Taiwan Portugal South Africa United Arab Emirates Croatia Iceland Taiwan Slovenia Singapore Belarus Ecuador Singapore Thailand Malaysia Singapore Madagascar Hong Kong Kazakhstan Saudi Arabia Estonia Malawi Luxembourg Nigeria Australia Brazil Guinea Ireland Bangladesh Slovenia Lithuania Trinidad and Tobago Greece Canada Luxembourg Latvia Equatorial Guinea Malaysia Mexico Thailand Agentina Namibia Slovenia Indonesia Vietnam Marocco Mosambique Israel Luxembourg Hong Kong Lebanon Zimbabwe Thailand Bulgaria Greece Iraq Paraguay Ukraine Australia Indonesia Bulgaria Dominican Republic Bulgaria Algeria Kazakhstan Jodan Mauretania Indonesia Azerbeijan Bulgaria Oman Greenland Egypt Australia Israel Chile Timor-Leste Algeria Greece Nigeria Venezuela Guyana Lithuania Libya Ukraine Marshall Islands Bhutan Argentina Israel Algeria Romania Comoros Iran Tunesia Philippines New Zealand South Korea Croatia Ukraine Egypt Uzbekistan Vatican State Chile Argentina Bangladesh Cyprus Grenada

14 Ranking of Germany s foreign trade partners (2014) contin. Pos. Exports Pos. Imports Pos. Turnover Pos. Foreign trade balance (surplus) Pos. Foreign trade balance (deficit) 53 Qatar Macedonia Lithuania Serbia Solomon Islands Philippines Lithuania Argentina Panama St. Barthelemy Vietnam Egypt Chile Malta Jamaica Belarus Chile Colombia Colombia St. Helena Colombia Hong Kong Croatia Bahrain Christmas Islands Kazakhstan Colombia Azerbaijan Georgia Ninue Estonia Pakistan Serbia Liberia Tokelau Marocco Serbia Tunesia Angola Palau Serbia Peru Qatar Bosnia-Herzegovina Tuvalu Latvia Saudi Arabia Iran El Salvador Kuwait Cambodia Marocco Yemen Nigeria Croatia Belarus Moldova Tunesia Marocco Libyan Arab Jamahiriya Uruguay Iraq Cote d'ivoire Macedonia Kenya New Zealand United Arab Emirates Estonia Cayman Island Peru Qatar Latvia Cuba Pakistan Latvia Pakistan Liechtenstein Bosnia-Herzegovina New Zealand Peru Kosovo Lebanon Bosnia-Herzegovina New Zealand Sudan Azerbaijan Ecuador Iraq Turkmenistan Venezuela Estonia Kuwait Brunei Darussalam Oman Belarus Bosnia-Herzegovina British Virgin Islands Jordan Costa Rica Liechtenstein Mongolia Malta Iceland Cambodia Albania Macedonia Sri Lanka Cote d'ivoire Cameroons Liechtenstein Liechtenstein Malta Afghanistan

15 Ranking of Germany s foreign trade partners (2014) contin. Pos. Exports Pos. Imports Pos. Turnover Pos. Foreign trade balance (surplus) Pos. Foreign trade balance (deficit) 79 Bangladesh Iraq Ecuador Algeria Cyprus Malta Lebanon Mali Marshall Islands Honduras Venezuela Guatemala Libyan Arab Jamahiriya Iran Iceland Senegal Uzbekistan Papua New Guinea Oman Republic of the Congo Panama Uruguay Jordan Kyrgyzstan Uruguay Ghana Sri Lanka Benin Ecuador Ethiopia Cyprus Gabon Georgia Dominican Republic Costa Rica Ghana Angola Trinidad and Tobago Uruguay Macau Bahrain Tanzania Marshall Islands Syrian Liberia Namibia Uzbekistan Zambia Moldova Paraguay Angola Botswana Kenya Kenya Panama Montenegro Iceland Moldova Georgia Ethiopia Turkmenistan Turkmenistan Ghana Mauritius Ghana Kuwait Moldova St. Kitts and Nevis El Salvador Angola Kenya Occupied Palestinian Territory Ethiopia Madagascar Honduras New Caledonia Sri Lanka Venezuela Bahrain Gibraltar Guatemala Mozambique Ethiopia Democratic Republic of Congo Yemen Guatemala Turkmenistan Burkina Faso Source: Federal Statistical Office of Germany; own calculations 15