Overview In August 2022 Lower Saxony exported €7.36B and imported €18B, resulting in a negative trade balance of €10.6B. Between August 2021 and August 2022 the exports of Lower Saxony have increased by $1.48B (25.1%) from €5.89B to €7.36B, while imports increased by €10.7B (147%) from €7.26B to €18B.
Trade In August 2022, the top exports of Lower Saxony were Motor cars and motor caravans (€711M), Chassis, bodies, engines etc. for motor... (€560M), Machinery for electricity production, distribution (€321M), Other machinery (€298M), and Meat and meat products (€265M). In August 2022 the top imports of Lower Saxony were Petroleum oil and petroleum gases (€8.58B), Machinery for electricity production, distribution (€721M), Motor cars and motor caravans (€718M), Chassis, bodies, engines etc. for motor... (€483M), and Estimations for non-response (€465M).
Destinations In August 2022, Lower Saxony exported mostly to Netherlands (€885M), Poland (€507M), France (€507M), United States (€500M), and United Kingdom (€413M), and imported mostly from Norway (€7.9B), Poland (€1.03B), Netherlands (€942M), United States (€512M), and Italy (€421M).
Growth In August 2022, the increase in Lower Saxony's year-by-year exports was explained primarily by an increase in exports to Spain (€89.2M or 51.4%), Vietnam (€22.8M or 149%), and Slovakia (€9.25M or 8.29%), and product exports increase in Machinery for electricity production, distribution (€42.3M or 15.3%), Estimations for exemptions (€31.9M or 44.7%), and Tar and products of tar distillation (€14.9M or 403%). In August 2022, the increase in Lower Saxony's year-by-year imports was explained primarily by an increase in imports from Norway (€197M or 38.2%), Poland (€69.1M or 8.18%), and Italy (€41.4M or 11.8%), and product imports increase in Machinery for electricity production, distribution (€238M or 67.8%), Other semi-finished products (€142M or 140%), and Petroleum oil and petroleum gases (€97.1M or 12.3%).