On the basis of the foreign trade statistics, which are compiled monthly by the Federal Statistical Office (Destatis), but which only record goods crossing the 'border', the Bundesbank also records and supplements those flows of goods which, without crossing the border, pass from a foreign to a domestic (or vice versa) owner. For example, sales by domestic companies that are processed abroad on behalf of a domestic company and then sold directly by that company are mentioned here. For the balance of payments, but also for the Bundesbank's imports and exports, this requires special additions and settlements in order to reconcile the figures from foreign trade statistics with those for the balance of payments.
On the export side, the balance of purchases and sales of goods in transit trade is also added. This is understood to mean transactions in which a resident acquires goods abroad, a change of ownership that is regarded as an import, without them reaching Germany. For example, green coffee is purchased from a German trader in Africa (import) and then resold to a Dutch roaster (export at a higher price). Furthermore, the Bundesbank records cross-border services and others that cannot be recorded in foreign trade statistics because no physical goods cross a border.
The Bundesbank receives the data for the transition through a monthly reporting obligation of four groups: Private individuals (amounts from € 12,500), commercial enterprises (amounts from € 12,500), shipping companies (income from and expenditure to foreigners) and financial institutions (securities transactions, interest payments).
In addition, the Bundesbank's figures represent monetary values in euros that are not set in relation to a base year, as is the case with the export price indices of the Federal Statistical Office.
German imports measure a change in the volume of imported goods and services in the month under review compared with the previous month. Information on imports is used to assess German foreign trade activity and the demand for imported goods in the country.
The prices of imports and exports are included in the terms of trade and this is a yardstick for the economic strength of an economy in international competition. If import prices fall compared to export prices, the terms of trade improve. This is seen as positive for the economy and can have a positive effect on the currency. However, rising import prices increase inflation, and this can have a positive effect on the currency in the short term.
The chart of the entire available history of the "Germany Imports m/m" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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