The Vietnam Trade Office in Germany has released the Germany Market Bulletin – March 2025, providing an overview of Germany’s trade performance, price indexes, industrial production, GDP trends, and Vietnam–Germany bilateral trade and investment developments.
Germany’s Foreign Trade – January 2025
Table of Contents
Exports (calendar and seasonally adjusted):
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€129.2 billion
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−2.5% month-on-month
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−0.1% year-on-year
Imports (calendar and seasonally adjusted):
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€113.1 billion
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+1.2% month-on-month
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+8.7% year-on-year
Trade balance: +€16.0 billion
Germany’s exports to EU countries reached €69.8 billion, while imports from the EU totaled €57 billion. Compared with December 2024, exports to EU markets dropped 4.2%, and imports decreased 1.1%.
Exports to non-EU countries were €59.4 billion, and imports were €56.1 billion — down 0.4% and up 3.7%, respectively.
Key trade partners:
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United States: exports down 4.2% to €13 billion
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China: exports down 0.9% to €6.7 billion
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United Kingdom: exports up 1.7% to €6.8 billion
On the import side:
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China: €12.9 billion (−2.8%)
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U.S.: €8.0 billion (+6.5%)
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U.K.: €3.6 billion (+18.8%)
Import Prices – January 2025
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+3.1% year-on-year
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+1.1% month-on-month
Consumer goods imports rose 4.5% year-on-year, led by:
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Cocoa, chocolate, and confectionery: +70.7%
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Orange juice: +38.2%
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Apple juice: +34.4%
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Poultry: +25.7%
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Dairy products: +13.5%
The sharpest increase was seen in cocoa butter, fats, and oils (+161.4%) and other chocolate products (+32.4%).
Agricultural imports: +12.0% y/y (+4.9% m/m)
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Raw cocoa: +129.0% y/y, +5.5% m/m
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Green coffee: +64.6% y/y, +15.3% m/m
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Onions: −40.3% y/y
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Live pigs: −19.9% y/y
Energy imports: +6.2% y/y (+4.1% m/m)
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Electricity: +51.2% y/y
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Natural gas: +18.4% y/y
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Coal: −12.4% y/y
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Petroleum products: −1.3% y/y
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Crude oil: −0.7% y/y
Intermediate goods: +2.5% y/y
Capital goods: +0.6% y/y
Export Prices – January 2025
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+2.4% year-on-year
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+0.7% month-on-month
Notable increases in export prices included:
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Non-ferrous metals: +12.2%
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Precious metals: +33.4%
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Unprocessed aluminum: +18.7%
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Unprocessed copper: +13.4%
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Electric machinery, generators, and transformers: +3.5%
Consumer goods: +2.9% y/y (steady m/m)
Agricultural exports: +5.3% y/y (+2.5% m/m)
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Cocoa and confectionery: +49.0%
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Cocoa butter, fats, and oils: +158.2%
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Butter and dairy: +39.8%
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Coffee (roasted or decaffeinated): +32.7%
Energy exports: +12.4% y/y (+4.9% m/m)
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Electricity: +51.2% y/y
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Natural gas: +24.0% y/y
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Petroleum products: −2.8% y/y
Consumer Price Index (CPI) – February 2025
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+2.3% year-on-year
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+0.4% month-on-month
Germany’s inflation rate stood at 2.3% in February 2025.
Core inflation (excluding food and energy) was 2.6%.
Food prices rose again, while energy prices slightly declined.
Industrial Production – January 2025
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+2.0% month-on-month (seasonally adjusted)
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−1.6% year-on-year
Positive growth was seen in:
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Automotive industry: +6.4%
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Food industry: +7.5%
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Machinery maintenance and assembly: +15.6%
Negative impacts came from:
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Fabricated metal products: −7.7%
GDP – Q4 2024
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−0.2% quarter-on-quarter
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−0.4% year-on-year
Exports of goods and services fell 2.2%, with goods exports alone down 3.4%. Imports of services, however, rose 4.2%.
Gross fixed capital formation dropped 2.7%, with machinery and equipment investment down 6.4% and constructiondown 1.9%.
Meanwhile, household consumption rose 0.3%, driven by higher spending on healthcare and non-durable goods, including food, gas, and fuels.
(Source: Statistisches Bundesamt – Federal Statistical Office of Germany)
Bilateral Trade Between Vietnam and Germany
According to Destatis, total Germany–Vietnam trade in 2024 reached USD 20.35 billion (+10.2% y/y).
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Germany’s exports to Vietnam: USD 4.02 billion (+5.3%)
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Imports from Vietnam: USD 16.33 billion (+11.5%)
According to Vietnam Customs, in the first two months of 2025, bilateral trade totaled USD 2.11 billion (+19.28% y/y):
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Vietnam’s exports to Germany: USD 1.57 billion (+25.38%)
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Vietnam’s imports from Germany: USD 546.09 million (+4.63%)
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Vietnam’s trade surplus: USD 1.02 billion (+40.19%)
Vietnam’s Export Highlights
Agricultural & Aquatic Products:
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Total: USD 360.5 million (+65.33%)
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Coffee: USD 278.95 million (+79.26%)
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Seafood: USD 29.45 million (+30.34%)
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Pepper: USD 19.12 million (+136.05%)
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Cashew nuts: USD 18.62 million (+4.78%)
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Fruits & vegetables: USD 10.78 million (+20.54%)
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Manufactured & Processed Goods:
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Total: USD 1.06 billion (+14.56%)
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Computers & electronics: USD 212 million (+67.93%)
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Machinery & tools: USD 220.84 million (+30.68%)
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Textiles & garments: USD 107 million (+9.84%)
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Vehicles & spare parts: USD 45.96 million (+65.97%)
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Declining Exports:
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Phones & components: USD 210.32 million (−14.11%)
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Footwear: USD 103.81 million (−27.41%)
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Rattan, bamboo, and mats: USD 4.5 million (−24.28%)
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Rubber products: USD 4.5 million (−13.04%)
Vietnam’s Imports from Germany
Increased imports:
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Pharmaceuticals: USD 70.17 million (+45.01%)
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Machinery & equipment: USD 201.3 million (+25.21%)
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Chemical products: USD 36.92 million (+16.65%)
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Electronics & components: USD 25.46 million (+8.37%)
Decreased imports:
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Chemicals: USD 45.25 million (−53.57%)
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Auto parts: USD 6.37 million (−31.71%)
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Animal feed & raw materials: USD 4.48 million (−34.28%)
German Investment in Vietnam
According to the Foreign Investment Agency (FIA Vietnam):
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In January 2025, Germany registered 3 new projects with total investment of USD 2.11 million, down 55.6% y/y, ranking 26th out of 44 countries investing in Vietnam that month.
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As of January 31, 2025, Germany had 485 active projects in Vietnam, with total registered capital of USD 2.805 billion, ranking 17th among 149 investor countries and territories.
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