German Current Account Surplus Shrinks in March

Germany’s current account surplus narrowed to €23.6 billion in March 2026, down from €27.4 billion a year earlier. The goods surplus fell to €18.5 billion from €21.4 billion, as exports rose 6.1% while imports surged 10.3%. The services deficit widened to €3.8 billion from €3.4 billion, and the secondary income gap increased to €6.7 billion from €5.4 billion. Meanwhile, the primary income surplus grew to €15.6 billion from €14.8 billion. In Q1 2026, the current account surplus declined to €62.2 billion from €65.3 billion in the same period of 2025.

Germany’s current account surplus expanded to €22.0 billion in February 2026, up from €21.3 billion in the same month last year. The primary income surplus rose to €11.5 billion from €10.4 billion a year earlier, while the goods surplus remained stable at €20.7 billion versus €20.6 billion, with exports increasing by 1.8% and imports by 2%. However, the services deficit grew to €4.6 billion (from €4.3 billion), and the secondary income deficit widened to €5.6 billion (from €5.4 billion). Over the first two months of 2026, Germany’s current account surplus reached €40.1 billion, compared to €37.9 billion in the same period of 2025.

Germany’s current account surplus widened to €17.1 billion in January 2026, up from €16.6 billion a year earlier. The goods surplus increased to €14.9 billion from €13.7 billion as imports fell 8.1%, outpacing a 6.0% drop in exports. Meanwhile, the services deficit narrowed to €4.6 billion from €5.9 billion. However, the primary income surplus declined to €13.9 billion from €14.4 billion, and the secondary income gap widened to €7.0 billion from €5.5 billion.