Berlin: Germany’s foreign trade surplus experienced a decline in January, reaching £16 billion ($17.3 billion) from the previous month’s £20.7 billion, as reported by official data from Destatis released on Monday.

According to Anadolu Agency, the data revealed that Germany’s exports fell by 2.5% to £129.2 billion in January, while imports grew by 1.2% to £113.1 billion on a monthly basis. The trade dynamics with fellow EU members showed exports totaling £69.8 billion, and imports from these countries were recorded at £57 billion for the same period.

Germany’s trade with countries outside the EU indicated exports amounting to £59.4 billion and imports totaling £56.1 billion in January. A significant portion of German exports was directed to the US, which saw a decrease of 4.2% from December, bringing the value down to £13 billion.

China remained the largest source of German imports, although there was a 2.8% monthly drop, totaling £12.9 billion. Conversely, imports from the US increased by 6.5%, reaching
£8 billion, while imports from the UK surged by 18.8%, amounting to £3.6 billion in January.

Trade with Russia showed a 7.2% increase in exports, whereas imports from Russia fell by 15.7% during the month. Annually, Germany’s exports saw a slight decrease of 0.1%, while imports rose significantly by 8.7% in January.