Year over year, the total cost of Germany’s imported goods declined by -6.9% from $1.571 billion in 2022.
Based on the average exchange rate for 2023, Germany uses the euro which depreciated by -3.5% against the US dollar since 2019 but improved by 2.6% from 2022 to 2023. The weaker European Union currency after 2019 made Germany’s imports paid for in stronger US dollars in 2023 relatively more expensive than in 2022 when converted starting from euros.
German imports represent 5.8% of all globally imported goods which totaled an estimated $25.371 trillion one year earlier in 2022.
Domestically, the inflation rate for Germany’s average consumer prices was 6.324% in 2023 down from an average 8.666% for 2022.
Germany’s 5 biggest imported products by value in 2023 were cars, automobile parts or accessories, crude oil, blood fractions including antisera, then processed petroleum oils. Collectively, that quintet of leading imports represents 16.3% of Germany’s total spending on imported goods during 2023.
Applying a continental lens, almost two-thirds (62.1%) of Germany’s total imports by value in 2023 was purchased from fellow European countries. Trade partners in Asia satisfied 25.4% of import purchases by Germany while another 8.3% worth of goods originated from North America.
Smaller percentages came from customers in Africa (2.4%), Latin America (1.4%) excluding Mexico but including the Caribbean, then Oceania (0.5%) led by Australia.
Given Germany’s population of 83.9 million people, its total $1.463 trillion in 2023 imports translates to roughly $17,500 in yearly product demand from every person in the European republic. That per-capita amount lags the average $18,900 one year earlier in 2022.
Germany’s Top 10 Imports
The following product groups represent the highest dollar value in Germany’s import purchases during 2023. Also shown is the percentage share each product category represents in terms of overall imports into Germany.
- Electrical machinery, equipment: US$217.7 billion (14.9% of total imports)
- Machinery including computers: $176.6 billion (12.1%)
- Vehicles: $157.9 billion (10.8%)
- Mineral fuels including oil: $133.3 billion (9.1%)
- Pharmaceuticals: $73.4 billion (5%)
- Plastics, plastic articles: $49.7 billion (3.4%)
- Optical, technical, medical apparatus: $49.2 billion (3.4%)
- Organic chemicals: $45.1 billion (3.1%)
- Iron, steel: $31.8 billion (2.2%)
- Articles of iron or steel: $29.5 billion (2%)
Germany’s top 10 imports accounted for 65.9% of the overall value of German product purchases from other countries.
The fastest-growing top categories from 2022 to 2023 were Germany’s imports of vehicles (up 15.3%), electrical machinery and equipment (up 8.1%), then the optical, technical and medical apparatus product category (up 4.7%).
The severest decliners for Germany were imports of mineral fuels including oil via a -35.6% reduction from 2022 and organic chemicals weighed down by a -32.4% retreat.
Note that the results listed above are at the categorized two-digit Harmonized Tariff System (HTS) code level. For a more detailed view of imported goods at the four-digit HTS code level, see the adjacent virtual folder tabs by product category.
Germany’s Best Electronics Imports
In 2023, German importers spent the most on the following 10 subcategories of electrical equipment including consumer electronics.
- Phone devices including smartphones: US$26.8 billion (up 1.8% from 2022)
- Electric storage batteries: $25.9 billion (up 40.7%)
- Integrated circuits/microassemblies: $25 billion (up 6.1%)
- Insulated wire/cable: $14.9 billion (up 5.4%)
- Electrical converters/power units: $14.3 billion (up 19.7%)
- Electrical/optical circuit boards, panels: $11.5 billion (up 26%)
- Solar power diodes/semi-conductors: $11.1 billion (down -3%)
- Lower-voltage switches, fuses: $9.5 billion (down -5%)
- Electric motors, generators: $7.3 billion (up 5.2%)
- Electric water heaters, hair dryers: $5.4 billion (down -11.2%)
Among these import subcategories, German purchases of electric storage batteries (up 40.7%), electrical or optical circuit boards and panels (up 26%), then electrical converters and power units (up 19.7%) grew at the fastest pace from 2022 to 2023.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among German businesses and consumers.
Germany’s Best Machinery Imports
In 2023, German importers spent the most on the following 10 subcategories of machines including computers.
- Computers, optical readers: US$25.2 billion (down -13.5% from 2022)
- Turbo-jets: $14.8 billion (up 16.8%)
- Centrifuges, filters and purifiers: $8.1 billion (up 0.04%)
- Taps, valves, similar appliances: $7.9 billion (down -1.5%)
- Printing machinery: $7.7 billion (down -5.2%)
- Piston engine parts: $6.8 billion (up 6.8%)
- Transmission shafts, gears, clutches: $6.6 billion (up 7.1%)
- Miscellaneous machinery: $6.3 billion (up 3%)
- Air or vacuum pumps: $5.9 billion (up 2.7%)
- Liquid pumps and elevators: $5.6 billion (up 6%)
Among these import subcategories, German purchases of turbo-jets (up 16.8%), transmission shafts, gears and clutches (up 7.1%), then piston engine parts (up 6.8%) grew at the fastest pace from 2022 to 2023.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among German businesses and consumers.
Germany’s Best Vehicles Imports
In 2023, German importers spent the most on the following 10 subcategories of vehicles.
- Cars: US$78.1 billion (up 14.5% from 2022)
- Automobile parts/accessories: $46.8 billion (up 17.9%)
- Trucks: $9.9 billion (up 23.9%)
- Tractors: $5 billion (up 54.2%)
- Motorcycle parts/accessories: $3.3 billion (down -26%)
- Motorcycles: $3.2 billion (up 0.1%)
- Trailers: $3 billion (down -9.7%)
- Public-transport vehicles: $1.3 billion (up 48.1%)
- Bicycles, other non-motorized cycles: $1.1 billion (down -8.4%)
- Special purpose vehicles: $556.8 million (down -9.1%)
Among these import subcategories, German purchases of tractors (up 54.2%), public-transport vehicles (up 48.1%), then trucks (up 23.9%) grew at the fastest pace from 2022 to 2023.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported vehicles among German businesses and consumers.
Germany’s Best Mineral Fuels Imports
In 2023, German importers spent the most on the following 10 subcategories of mineral fuels-related products.
- Crude oil: US$45.8 billion (down -26.1% from 2022)
- Processed petroleum oils: $32 billion (down -6.5%)
- Petroleum gases: $31.6 billion (down -58.4%)
- Electrical energy: $7.3 billion (down -44.2%)
- Coal, solid fuels made from coal: $7 billion (down -45.7%)
- Coal tar oils (high temperature distillation): $1.2 billion (down -9.6%)
- Coke, semi-coke: $1.1 billion (down -11.2%)
- Petroleum oil residues: $429.9 million (down -1.8%)
- Petroleum jelly, mineral waxes: $265.3 million (down -42.7%)
- Peat: $94.4 million (down -7.5%)
Among these import subcategories, German purchases of petroleum oil residues (down -1.8%), processed petroleum oils (down -6.5%), then peat (down -7.5%) reduced at the slowest pace from 2022 to 2023.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of mineral fuels-related imports among German businesses and consumers.
See also Germany’s Top 10 Exports, Germany’s Top Trading Partners, Top German Trade Balances and Germany’s Top 10 Major Export Companies
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on March 31, 2024
Imported Consumer Products, Germany’s Top 100 Imported Consumer Products. Accessed on March 31, 2024
International Monetary Fund, Exchange Rates selected indicators (National Currency per U.S. dollar, period average). Accessed on March 31, 2024
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on March 31, 2024
International Trade Centre, Trade Map. Accessed on March 31, 2024