Germany’s exports, imports up in 2022 amid energy crisis, high inflation

Germany’s imports and exports both increased year-on-year in 2022 amid the energy crisis and high inflation, according to preliminary figures published by the Federal Statistical Office (Destatis).

Exports of Europe’s largest economy rose by 14.3 per cent year-on-year to 1.56 trillion euros, while imports jumped 24.3 per cent to a value of 1.49 trillion euros, Xinhua news agency reported citing Destatis as saying.

The increases were “largely based on price effects”, the German Chamber of Industry and Commerce (DIHK) said while commenting on the figures.

As with inflation, the development was mostly driven by soaring energy prices.