Germany's trade surplus down sharply to $1.4B, lowest since 1992

Germany's trade surplus in April fell sharply to €1.3 billion ($1.4 billion), the lowest since 1992, as the country's imports surged 25.2% year-on-year to €120.9 billion, official figures showed on Friday.

Exports increased 9.2% to €122.2 billion in April compared to same month last year, according to the Federal Statistical Office (Destatis).

In April 2021, the trade surplus was €15.3 billion.

On a nominal basis, Germany exported goods to the value of €0.8 billion to Russia in April 2022.

Sales to Russia dropped by 10% in April, after sinking 60% in March due to sanctions imposed on Moscow.

Most shipments were sent to the US (7.7%) and the EU (4.2%). Imports from China went up 12.3% and those from the euro area 2.4%. Purchases from the US went down 1.2%.

Russia ranked only 30th among the major countries of destination for German exports in April 2022.