German Trade Surplus Narrows in January

The German trade surplus decreased to EUR 14.5 billion in January 2019 from EUR 17.2 billion in the same month a year earlier, as imports rose 5.0 percent to EUR 94.4 billion, while exports grew at a softer 1.7 percent to EUR 108.9 billion.
Destatis l Rida Husna | rida@tradingeconomics.com
3/11/2019 7:49:39 AM
Imports increased 5.0 percent from a year earlier to EUR 94.4 billion in January. Purchases from the EU went up 3.7 percent to EUR 51.7 billion, of which Euro area (4.7 percent to EUR 33.8 billion) and non-Euro area countries (2 percent to EUR17.9 billion). In addition, imports from countries outside the EU expanded 6.5 percent to EUR 42.7 billion. 

Meanwhile, exports advanced 1.7 percent to EUR 108.9 billion. Sales to the EU grew 0.6 percent to EUR 65.3 billion, of which Euro area (1 percent to EUR 41.4 billion) and countries outside the EU (3.3 percent to EUR 43.5 billion). Meanwhile, exports from non-Euro area countries was unchanged at EUR 23.9 billion.

On a seasonally adjusted basis, the trade surplus narrowed to EUR 18.5 billion in January from an upwardly revised EUR 19.9 billion in December and mising market expectations of EUR 21.0 billion. Imports increased 1.5 percent, much faster than market consensus of a 0.2 percent rise, while exports were unchanged, compared to expectations of a 0.5 percent fall.

German Trade Surplus Narrows in January



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German Trade Surplus Smallest in Nearly 3 Years
Germany’s trade surplus narrowed to €13.1 billion in November 2025, down from an upwardly revised €17.2 billion in October and well below expectations of €16.5 billion. It marked the smallest trade surplus since December 2022, as exports fell while imports rose. Exports unexpectedly dropped 2.5% to a 13-month low of €128.1 billion, missing expectations of being flat, weighed by lower demand from EU trading partners, which fell 4.2%, and from third countries (-0.2%). Imports rose 0.8% to €115.1 billion, surpassing market forecasts of 0.2% growth, boosted by higher purchases from third countries, including China, the US, the UK, and Russia. For the first eleven months of 2025, Germany recorded a trade surplus of €182.3 billion, as exports rose just 0.9%, while imports grew 4.6%.
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German Trade Surplus Smallest in Nearly 3 Years
Germany’s trade surplus narrowed to €13.1 billion in November 2025, down from an upwardly revised €17.2 billion in October and well below expectations of €16.5 billion. It marked the smallest trade surplus since December 2022, as exports fell while imports rose. Exports unexpectedly dropped 2.5% mom to a 13-month low of €128.1 billion, missing expectations of being flat, weighed by lower demand from EU trading partners, which fell 4.2%, and from third countries (-0.2%). Shipments to the US, Germany’s largest export destination, fell 4.2% amid the lingering impact of US tariffs, following a 7.8% drop in October. Meanwhile, exports to the UK and Russia fell by 8.1% and 5.5%, respectively. Imports rose 0.8% to €115.1 billion, surpassing forecasts of 0.2% growth, boosted by higher purchases from third countries, including China, the US, the UK, and Russia. For the 1st eleven months of 2025, Germany posted a trade surplus of €182.3 billion, as exports rose just 0.9% while imports grew 4.6%.
Published on 2026-01-09

German Trade Surplus Smallest in Nearly 3 Years
Germany’s trade surplus narrowed to €13.1 billion in November 2025, down from an upwardly revised €17.2 billion in October and well below expectations of €16.5 billion. It marked the smallest trade surplus since December 2022, as exports fell while imports rose. Exports unexpectedly dropped 2.5% to a 13-month low of €128.1 billion, missing expectations of being flat, weighed by lower demand from EU trading partners, which fell 4.2%, and from third countries (-0.2%). Imports rose 0.8% to €115.1 billion, surpassing market forecasts of 0.2% growth, boosted by higher purchases from third countries, including China, the US, the UK, and Russia. For the first eleven months of 2025, Germany recorded a trade surplus of €182.3 billion, as exports rose just 0.9%, while imports grew 4.6%.
Published on 2026-01-09

German Trade Surplus Smallest in Nearly 3 Years
Germany’s trade surplus narrowed to €13.1 billion in November 2025, down from an upwardly revised €17.2 billion in October and below market expectations of €16.5 billion. This was the smallest surplus since December 2022, as exports fell 2.5% to a 13-month low of €128.1 billion, missing forecasts for flat growth. Weak demand from the EU (-4.2%) and other trading partners (-0.2%) weighed on shipments, with exports to the US, Germany’s largest market, declining 4.2% amid the ongoing impact of tariffs, following a 7.8% drop in October. Exports to the UK and Russia also fell sharply, by 8.1% and 5.5% respectively. Imports rose 0.8% to €115.1 billion, above the expected 0.2%, supported by higher purchases from China, the US, and the UK. For the first eleven months of 2025, Germany recorded a trade surplus of €182.3 billion, with exports up just 0.9% while imports rose 4.6%.
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