People visit the Caravan Salon 2022 in Dusseldorf, Germany, on Aug. 27, 2022. (Xinhua/Shan Weiyi)
The increases, however, were "largely based on price effects" as with inflation, the development was mostly driven by soaring energy prices.
BERLIN, Feb. 2 (Xinhua) -- 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) on Thursday.
Exports of Europe's largest economy rose by 14.3 percent year-on-year to 1.56 trillion euros (1.72 trillion U.S. dollars), while imports jumped 24.3 percent to a value of 1.49 trillion euros.
The increases were "largely based on price effects," the German Chamber of Industry and Commerce (DIHK) commented on the figures. As with inflation, the development was mostly driven by soaring energy prices.
German Chancellor Olaf Scholz delivers a speech at the opening ceremony of Hannover Messe (Hanover Fair) in Hanover, Germany, May 29, 2022. (Xinhua/Ren Pengfei)
Last year's export balance "turns out to be less good than it seems," Tanja Goenner, chief executive of the Federation of German Industries (BDI), said.
Germany's once sizable export surplus more than halved year-on-year to less than 80 billion euros in 2022. According to Destatis, this was the lowest figure since 2000 and the fifth decline in succession.
The country's foreign trade started to show signs of weakening in the second half of last year. In December 2022, both exports and imports fell by more than 6 percent compared to the previous month, according to the latest figures.
Photo taken on July 11, 2022 shows a scene from the welcome ceremony for the 10,000th trip made by China-Europe freight trains operated by the China-Europe Railway Express (Chongqing) in Duisburg, Germany. (Xinhua/Ren Pengfei)
The "massive decline" in exports last month was "symptomatic of a challenging year for German foreign trade overall," DIHK expert Melanie Vogelbach said. (1 euro = 1.10 U.S. dollar) ■
