German Imports Slip in July

Germany’s imports fell 5.7% month-on-month to €119.6 billion in July 2026, reversing an upwardly revised 4.5% increase in the previous month. Imports from EU member states declined 6.1%, driven by lower purchases from eurozone countries, which fell 6.5%, and EU countries outside the eurozone, which dropped 5.1%. Imports from third countries also contracted 5.3%, led by declines in shipments from China, which fell 7.5%, the US, which decreased 8.2%, and the UK, which dropped 1%. On a yearly basis, imports rose 3.1%, slowing sharply from a downwardly revised 14% gain in June. In the first seven months of 2026, imports reached €828.4 billion, up 4.2% from the same period a year earlier.

Germany’s imports climbed 4.4% month-on-month to €123.9 billion in June 2026, the highest level since November 2022, shifting from a marginally revised 2.6% decline in the previous month and easily surpassing market expectations for a 1.0% increase. Imports from EU member states surged 7.4%, driven by a 7.5% rise in purchases from euro-area countries and a 7.3% increase from non-euro-area EU members. Meanwhile, imports from non-EU countries grew 1.4%, supported by a 9.0% jump in shipments from China, despite a sharp 9.6% decline in purchases from the U.S. and a 16.7% drop in imports from the United Kingdom. On an annual basis, total imports rose 14.0%, accelerating from May's 1.5% gain. In the first half of 2026, imports increased 4.4% from the same period a year earlier to €711.6 billion.

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, imports increased 3.7% from the same period a year earlier to €587.8 billion.