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Trade challenges in a changing world Speech at the German-British Chamber of Industry & Commerce
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Public debate on the review of the EU economic governance Bundesbank contribution, 22 December 2021
146 KB, PDF
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Trade in services
The trade in services records all monthly transactions involving services between residents and non-residents. These include travel, transport services, financial services, fees for the use of intellectual property, and business-related statistics.
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German balance of payments in December 2024
Germany’s current account recorded a surplus of €24.0 billion in December 2024, up €2.1 billion on the previous month’s level. The surplus in the goods account decreased sharply, but the surplus in invisible current transactions, which comprise services as well as primary and secondary income, increased more strongly.
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German balance of payments in June 2024
Germany’s current account posted a surplus of € 23.2 billion in June 2024, up € 4.9 billion on the previous month’s level. The goods account surplus decreased, yet the deficit in invisible current transactions narrowed to a far greater extent.
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Germany’s international investment position at the end of 2023
At the end of 2023, Germany’s net external assets totalled €2,964 billion, thus amounting to just over 70% of Germany’s nominal gross domestic product (GDP). Overall, both assets and liabilities vis-à-vis non-residents rose further in 2023.
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Reflections on the Eurosystem’s new operational framework Speech at the Konstanz Seminar on Monetary Theory and Monetary Policy
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Current monetary policy topics Speech at the Commerzbank AG event “Geldpolitik in Zeiten der Inflation”