Bundesbank Nagel Speech

Germany is a member of the European Union which has adopted the euro. Germany's benchmark interest rate is set by the European Central Bank. The official designation for the rate is main refinancing operation.

Exports YoY

33.9%

Imports YoY

11.7%

Balance of Trade

8740000000

South Korea is heavily dependent on international trade with the biggest trading partners including China, the US and Japan. The country has been recording consistent trade surpluses since 2008 with the exception of 2022 when the war in Ukraine increased substantially the bill for imports of oil and food.