Germany’s overall trade surplus for all products equaled US$205.9 billion in 2020, down by -21.9% from $263.6 billion in 2013. Year over year, the $205.9 billion in black ink during 2020 represents a -17.9% decline from the $250.7 billion surplus that Germany generated one year ago in 2019.
To put Germany’s most recent $205.9 billion trade surplus metric into perspective, the country’s total external debt encompassing both public and private red ink equaled -$6.488 trillion at September 2020. Germany’s external debt is the equivalent of over 30 times the magnitude of its positive international trade balance.
Top German Trade Balances by Product and Country
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The following 10 leading products generated a surplus subtotal of $162.8 billion for Germany in its global trade during 2020. Metrics listed below highlight Germany’s strongest competitive advantages over worldwide trading partners.
- Cars: US$57 billion (Down -20% since 2019)
- Medication mixes in dosage: $26.5 billion (Up 2.2%)
- Automobile parts/accessories: $21.4 billion (Down -4.5%)
- Miscellaneous aircraft, spacecraft (e.g. helicopters, launchers): $14.5 billion (Down -37.7%)
- Miscellaneous machinery: $10.7 billion (Down -11.8%)
- Centrifuges, filters and purifiers: $7.1 billion (Up 3.3%)
- Transmission shafts, gears, clutches: $6.8 billion (Down -2%)
- Taps, valves, similar appliances: $6.5 billion (Down -8.9%)
- Lower-voltage switches, fuses: $6.2 billion (Down -3.1%)
- Dishwashing, clean/dry/fill machines: $6 billion (Down -4.2%)
Among the top product-specific trade balances, the sole growers from 2019 to 2020 were centrifuges, filters and purifiers (up 3.3%) and medication mixes in dosage (up 2.2%).
Positive trade balances declined at the severest pace year over year for miscellaneous aircraft and spacecraft (down -37.7%), cars (down -20%) and miscellaneous machinery (dpwn -11.8%).
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See also Germany’s Top 10 Imports, Germany’s Top Trading Partners, Germany’s Top 10 Exports and Germany’s Top 10 Major Export Companies
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on February 22, 2021
External Debt (for specified countries), CEIC Data. Accessed on February 22, 2021
International Trade Centre, Trade Map. Accessed on February 22, 2021
Investopedia, Net Exports Definition. Accessed on February 22, 2021
Wikipedia, Economy of Germany. Accessed on February 22, 2021