Germany Imports Unexpectedly Drop

Germany’s imports fell 2.5% month-on-month to a three-month low of €118.8 billion in May 2026, reversing a marginally revised 1.1% increase in the previous month and missing market estimates of a 0.1% gain. Imports from EU member states declined 2.5%, as a 4.3% drop in purchases from euro-area countries more than offset a 1.6% rise in imports from non-euro-area EU members. Meanwhile, imports from non-EU countries decreased 2.6%, reflecting weaker shipments from China (-2.0%), despite a sharp 11.5% increase in purchases from the U.S. and a 14.5% rise in imports from the United Kingdom. On an annual basis, total imports rose 1.6%, slowing markedly from April’s 6.1% increase. For the first five months of 2026, Germany’s imports increased 3.7% from the same period a year earlier to €587.8 billion.

Germany’s imports rose 1.2% month-on-month to €122.1 billion in April 2026, marking the highest level since November 2022. However, growth slowed markedly from a downwardly revised 4.5% increase in the previous month. Imports from EU member states edged up 0.4%, supported by a 2.2% rise in purchases from euro-area countries, which offset a 3.4% decline in imports from non-euro-area EU members. Meanwhile, imports from non-EU countries increased 2.0%, driven by higher shipments from the U.S. (7.6%) and China (0.2%), despite a 4.7% drop in purchases from the United Kingdom. On an annual basis, total imports were 6.3% higher than a year earlier, though the pace eased from a 10.4% increase in March. For the January–April period, Germany’s imports rose 2.8% from the same period in 2025 to €468.4 billion, reflecting resilient domestic demand despite ongoing economic uncertainty.

Germany’s imports surged 5.1% month-on-month to €121.5 billion in March 2026, the highest amount since November 2022, accelerating from an upwardly revised 4.9% increase in the prior month and far exceeding market expectations of a 0.8% gain. Purchases from EU partners grew 3.0%, supported by stronger purchases from both euro area countries (1.7%) and non-euro-area members (5.7%). Meanwhile, imports from non-EU countries jumped 7.4%, driven by higher shipments from China (4.9%) and the United Kingdom (11.7%). In contrast, imports from the United States declined 3.7%. For the first quarter, Germany’s imports increased 1.9% year-on-year to €347.3 billion. Compared with March last year, total imports surged 11.1%, picking up from a 0.7% rise in February.