Imports and Exports in Germany
Imports and Exports in GermanyUpdated on Friday 10th April 2020
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Germany is the third greatest exporter and importer in the world and the first in Europe. Founder of the European Union and Eurozone and part of the World Trade Organization, Germany’s economy is based on international commerce.
Exports in Germany
Germany is a top exporter for vehicles and cars parts, machinery, pharmaceuticals, industrial oils and alcohols. The first place in Germany’s exports is occupied by cars that represent 11% of Germany’s total exports, followed by vehicle spare parts with 4% of the exports. The third place is occupied by pharmaceuticals and aircraft spare parts with a percentage of almost 4. Among other products that Germany exports there are also petroleum, industrial machinery, computers and medical devices. The countries Germany exports most to are France and the United States that import about 8% of Germany’s products, followed by China and the United Kingdom with almost 6%, The Netherlands, Italy, Austria and Belgium with almost 5% and countries like Russia, Spain, Japan and Turkey where Germany exports just a small percentage of its goods.
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Imports in Germany
Germany’s imports are mainly based on petroleum, cars and vehicle parts. Germany’s most imported product is petroleum under different forms: crude, refined or gas and it constitutes almost 14% of the country’s total imports. Then Germany’s imports focus on vehicles and vehicle parts that together occupy almost 7%. In smaller percentages Germany imports computers, pharmaceuticals and medical devices, integrated circuits and aircraft parts. Imports in Germany rely on The Netherlands and China with almost 9%, France with almost 8%, The United States and Italy with 5.5% and countries like Belgium, The United Kingdom and Switzerland with almost 5%.
Trade regulations in Germany
When it comes to taxes, Germany’s taxation system applies import turnover tax (Einfuhrumsatzsteuer) of 19% form countries outside the European Union, and 7% tax for certain categories of products. However, this tax can be deducted as an input tax (Vorsteuer). EORI registration in Germany is needed for companies engaged in trade activities.
According to EU regulations there is a Tariff of the Community, also known as TARIC (Tarif Intégré de la Communauté) that enables rules for goods imported from other EU member states, or goods exported outside the Community. Germany has a list of import (Einfuhrliste) with rules for some categories of products that require licenses or restrictions are applied. The tariffs and licenses for these products can be verified online. German VAT registration is required, according to the current threshold.