Germany’s trade surplus widened to €21.3 billion in July 2026 from €15.4 billion in June, exceeding expectations of a rise to €16 billion and marking the largest trade surplus since August 2024, as exports fell less sharply than imports. Exports fell 0.8% month-on-month to €138.2 billion, compared with forecasts of no change, as sales to EU countries declined 1.6%, while shipments to third countries edged up 0.2%. Within third countries, the growth in exports was mainly driven by a 19.1% jump in exports to the US, while shipments to China and the UK fell 9.5% and 7.2%, respectively. Meanwhile, imports dropped 5.7% to €116.9 billion, with those from EU countries down 6.1% and from third countries falling 5.3%. Imports from China fell 7.5%, those from the US declined 8.2%, and those from the UK dropped 1%. From January to July, Germany’s trade surplus increased to €125.8 billion from €122.8 billion in the same period last year. source: Federal Statistical Office

Germany recorded a trade surplus of 21.27 EUR Billion in July of 2026. Balance of Trade in Germany averaged 7.42 EUR Billion from 1962 until 2026, reaching an all time high of 25.52 EUR Billion in January of 2024 and a record low of -0.39 EUR Billion in May of 1991. This page provides - Germany Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Germany Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on September of 2026.

Germany recorded a trade surplus of 21.27 EUR Billion in July of 2026. Balance of Trade in Germany is expected to be 15.60 EUR Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Germany Balance of Trade is projected to trend around 11.00 EUR Billion in 2027 and 12.00 EUR Billion in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-08-07 06:00 AM
Balance of Trade
Jun €15.4B €19.3B €17.4B €17.2B
2026-09-08 06:00 AM
Balance of Trade
Jul €21.3B €15.4B €16B €17.5B
2026-10-08 06:00 AM
Balance of Trade
Aug €21.3B


Related Last Previous Unit Reference
Balance of Trade 21.27 15.37 EUR Billion Jul 2026
Current Account 19033.87 8964.54 EUR Million Jun 2026
Exports MoM 138.22 139.35 EUR Billion Jul 2026
Imports MoM 119.60 124.00 EUR Billion Jul 2026
Terms of Trade 101.40 101.10 points Jul 2026
Tourist Arrivals 3505.78 3357.20 Thousand Jun 2026


Germany Balance of Trade
Germany continued to post significant trade surpluses with key partners in 2024. The surplus with the United States stood at approximately €69.8 billion, reflecting robust demand for German industrial goods, such as motor vehicles and machinery. In contrast, Germany recorded a substantial trade deficit with China—around €66.3 billion—due to high imports of electronics, machinery, and other manufactured products. Overall, the US regained its position as Germany’s largest trading partner, slightly ahead of China, with the Netherlands ranking third.
Actual Previous Highest Lowest Dates Unit Frequency
21.27 15.37 25.52 -0.39 1962 - 2026 EUR Billion Monthly
Current Prices, SA, WDA

News Stream
German Trade Surplus Largest in Two Years
Germany’s trade surplus widened to €21.3 billion in July 2026 from €15.4 billion in June, exceeding expectations of a rise to €16 billion and marking the largest trade surplus since August 2024, as exports fell less sharply than imports. Exports fell 0.8% month-on-month to €138.2 billion, compared with forecasts of no change, as sales to EU countries declined 1.6%, while shipments to third countries edged up 0.2%. Within third countries, the growth in exports was mainly driven by a 19.1% jump in exports to the US, while shipments to China and the UK fell 9.5% and 7.2%, respectively. Meanwhile, imports dropped 5.7% to €116.9 billion, with those from EU countries down 6.1% and from third countries falling 5.3%. Imports from China fell 7.5%, those from the US declined 8.2%, and those from the UK dropped 1%. From January to July, Germany’s trade surplus increased to €125.8 billion from €122.8 billion in the same period last year.
2026-09-08
German Trade Surplus Below Estimates
Germany's trade surplus narrowed to €15.4 billion in June 2026 from an upwardly revised €19.3 billion in May, below estimates of €17.4 billion, as imports rose more than exports. Imports rose 4.4% mom to an over 3-1/2-year high of €123.9 billion in June 2026, rebounding from a marginally revised 2.6% drop in May and surpassing estimates of a 1.0% rise. Imports from EU countries climbed 7.4%, while those from third countries grew 1.4%, buoyed by a 9.1% increase in imports from China. Meanwhile, exports grew by 0.9% mom to a nearly four-year high of €139.3 billion in June 2026, following an upwardly revised 1.1% gain in May and beating forecasts of 0.2% growth. Exports to EU countries grew 1.3%, while exports to third countries rose 0.3%, supported by a 7.7% gain in shipments to the UK. However, exports to the US, Germany's largest export market, plunged 14.2%. For H1 of 2026, Germany recorded a trade surplus of €105 billion, with exports and imports rising 3.7% and 4.4%, respectively.
2026-08-07
German Trade Surplus Largest in 3 Months
Germany's trade surplus widened to €19.1 billion in May 2026 from an upwardly revised €14.7 billion in April, surpassing expectations of €14.8 billion, marking the largest trade surplus since February. Exports unexpectedly increased by 0.9% mom to an over 3½-year high of €137.9 billion in May 2026, accelerating from a downwardly revised 0.8% rise in April and beating expectations of a 0.3% decline. Exports to third countries rose 3.6%, supported by a 23.1% surge in shipments to the US, Germany's largest export market. Meanwhile, imports fell 2.5% mom to a three-month low of €118.8 billion in May 2026, reversing a marginally revised 1.1% gain in April and missing estimates of a 0.1% growth. Imports from EU member states fell 2.5%, while those from non-EU countries dropped 2.6%, amid a decline in shipments from China (-2.0%). For the first five months of the year, the country posted a trade surplus of €88.4 billion, with exports and imports climbing 3.0% and 3.7%, respectively.
2026-07-09