2025年2月，德国的进口额环比增长0.7%，达到1138亿欧元，较上月上调的5%有所缓和。来自欧盟国家的入境人数增长了2.3%，主要是由于来自欧元区（2.8%）和非欧元区（1.4%）的购买量增加。与此同时，来自第三国的游客人数下降了1%，主要原因是来自美国（-3.9%）、英国（-5.2%）和俄罗斯联邦（-4.5%）的购买量下降。

Imports to Germany increased by 0.7% month-over-month to EUR 113.8 billion in February 2025, easing from an upwardly revised 5% gain in the previous month. Arrivals from EU countries grew by 2.3%, mainly due to increased purchases from both the Euro area (2.8%) and the non-Euro area (1.4%). Meanwhile, arrivals from third countries declined by 1%, primarily driven by lower purchases from the US (-3.9%), the UK (-5.2%), and the Russian Federation (-4.5%).

2025年2月，德国的出口环比增长1.8%，达到1316亿欧元的十个月高点，此前一个月的修订数字为0%。这标志着自2024年11月以来出口活动的最强劲增长，主要是由于对欧盟的销售额增加（0.5%），特别是对欧元区（0.3%）和非欧元区（1%）的销售额增加。此外，对第三国（3.2%）的出货量增加，特别是对美国（8.5%）和中国（0.6%）。然而，对英国（-3.8%）和俄罗斯联邦（-3%）的出货量下降。

Exports from Germany rose by 1.8% month-over-month to a ten-month high of EUR 131.6 billion in February 2025, following a revised figure of 0% in the previous month. This marked the strongest growth in export activity since November 2024, primarily driven by higher sales to the EU (0.5%), particularly to the Euro area (0.3%) and the non-Euro area (1%). In addition, shipments increased to third countries (3.2%), particularly to the USA (8.5%) and China (0.6%). However, shipments declined to the UK (-3.8%) and Russian Federation (-3%).

继1月份增长2%之后，德国工业生产在2025年2月环比下降1.3%，降幅超过市场预期的1.1%。这一下降主要是由于建筑业下降3.2%，以及食品工业（-5.3%）和能源生产（-3.3%）的产量下降。相比之下，电气设备制造业3.3%的增长对整体业绩产生了积极影响。与此同时，能源密集型行业的产量下降了0.6%。波动较小的三个月环比显示，从2024年12月到2025年2月，工业产出下降了0.1%。在1月份下降1.6%之后，工业活动同比下降4%。

Industrial production in Germany dropped 1.3% month-over-month in February 2025, following a 2% increase in January, coming more than market expectations of a 1.1% decline. The decrease was largely driven by a 3.2% drop in the construction industry, along with reduced output in the food industry (-5.3%) and energy production (-3.3%). In contrast, a 3.3% increase in electrical equipment manufacturing positively impacted overall results. Meanwhile, production in energy-intensive industries fell by 0.6%. The less volatile three-month-on-three-month comparison showed a 0.1% decline in industrial output from December 2024 to February 2025. On a yearly basis, industrial activity fell by 4%, following a 1.6% drop in January.

由于出口增长超过进口，德国的贸易顺差从1月份向上修正的162亿欧元增加到2025年2月的177亿欧元，略低于178亿欧元的预测。1月份出口环比增长1.8%，达到1316亿欧元的十个月高点，此前一个月没有增长，这得益于对欧盟国家（0.5%）的销售，特别是对欧元区（0.3%）和非欧元区（1.0%）的销售。此外，由于对美国（8.5%）和中国（0.6%）的销售额增加，但对英国（-3.8%）和俄罗斯（-3.0%）的销售额下降，对第三国的销售额增长了3.2%。与此同时，进口增长0.7%，达到1138亿欧元的20个月高点。来自欧盟的进口增长了2.3%，其中欧元区（2.8%）和非欧元区（1.4%）的进口都有所增长。相反，来自第三国的采购量下降了1.0%，其中来自美国（-3.9%）、俄罗斯（-4.5%）和英国（-5.2%）的采购量减少，而来自中国的采购量增加（7.1%）。

Germany's trade surplus increased to EUR 17.7 billion in February 2025 from an upwardly revised EUR 16.2 billion in January, slightly below forecasts of EUR 17.8 billion, as exports grew more than imports. Exports rose by 1.8% mom to a ten-month high of EUR 131.6 billion in January, after showing no growth in the previous month, supported by sales to EU countries (0.5%), specifically to the Euro area (0.3%) and the non-Euro area (1.0%). Additionally, sales to third countries expanded by 3.2%, due to higher sales to the US (8.5%) and China (0.6%), but falling sales to the UK (-3.8%) and Russia (-3.0%). Meanwhile, imports climbed by 0.7% to a 20-month high of EUR 113.8 billion. Imports from the EU grew by 2.3%, with increases from both the Euro area (2.8%) and the non-Euro area (1.4%). Conversely, purchases from third countries fell by 1.0%, amid lower arrivals from the US (-3.9%), Russia (-4.5%), and the UK (-5.2%), while purchases from China advanced (7.1%).