Germany's trade surplus grows to $17.7B in January

ANKARA

Germany's foreign trade balance posted a €16.7 billion ($17.7 billion) surplus in January, provisional data from Destatis showed on Friday.

The trade surplus grew from €10.0 billion the prior month and €12.1 billion in January 2022.

The country's exports jumped 8.6% year-on-year to €130.6 billion this January while imports increased 5.2% to €113.9 billion.

Germany exported goods worth of €71.9 billion to EU member states, and imported goods to the value of €59.6 billion from the bloc in the month.

The country's shipments to non-EU countries reached €58.7 billion and imports totaled €54.2 billion.

Most German exports went to the US in January, reaching €12.7 billion. It was followed by China with €7.7 billion and the UK with €6.1 billion.

Germany imported the most from China with €12.7 billion, followed by the US with €8.3 billion and the UK with €3.3 billion.

Exports to Russia amounted to €1 billion in January, surging 12.3% month-on-month but dropping 60% year-on-year.

Imports from Russia decreased 75.1% from last year to €1 billion in January.