Germany’s current account recorded a surplus of €30.8 billion in November 2023, up €10.8 billion on the previous month’s level. This was primarily caused by the shift into a surplus in invisible current transactions, which comprise services as well as primary and secondary income. Moreover, the surplus in the goods account increased.

At the end of December 2022, Germany’s net external assets stood at €2,721 billion, thus amounting to around 70% of nominal gross domestic product (GDP). Both German assets and liabilities vis-à-vis non-residents rose further in 2022.

on the topic of Corporate financial statements

The People’s Republic of China currently has severe economic problems to contend with. On top of that, relations between advanced economies in the West and China have worsened noticeably of late. These developments also present considerable risks for Germany. “If these risks materialise, Germany’s economy could take a huge hit,” the Bundesbank writes in an article in its January Monthly Report. The article explores Germany’s dependence on China, and is the first to also focus on potential risks to the financial system. 

Bundesbankpräsident Joachim Nagel spricht über den digitalen Euro, die Inflation – und wann die Rente mit 69 kommen kann.

The German economy grew last year despite inflation, the war in Ukraine and persistent supply problems. Price-adjusted gross domestic product (GDP) rose by 1.9%, according to initial calculations reported by the Federal Statistical Office. In calendar-adjusted terms, it found that economic growth amounted to 2.0%. “In 2022, the overall economic situation in Germany was affected by the consequences of the war in Ukraine and the extremely high energy price increases,” said Dr Ruth Brand, President of the Federal Statistical Office since 1 January 2023, at a press conference.