German Imports Exceed Expectations

Germany’s imports rose 4.2% month-over-month to a near four-year high of EUR 125.5 billion in September, easily exceeding market expectations of 0.5% and accelerating from a downwardly revised 0.6% in the previous month. It marked the strongest monthly growth since January 2025, with imports from EU member states increasing 4.9%, supported by a 3.8% rise in arrivals from eurozone countries and a 7% jump from EU countries outside the eurozone. Moreover, imports from third countries climbed 3.6%, driven mainly by a 6.2% increase in arrivals from the US, while imports from China and the UK rose 1.6% and 1%, respectively. On a yearly basis, imports increased 8.7%, accelerating from an upwardly revised 6.4% gain in August. For the first nine months of 2026, total imports reached EUR 1,082.6 billion, up 4.8% from the corresponding period a year earlier.

Germany’s imports rose 0.9% month-on-month to EUR 118.1 billion in August 2026, below market expectations of a 2.8% gain but rebounding from a downwardly revised 5.5% decline in the previous month. Imports from third countries increased 2.2% from a month earlier to EUR 58.8 billion, driven mainly by an 11% rise in purchases from China, while imports from the US fell 0.5% and those from the UK declined 3.8%. Meanwhile, imports from EU member states fell 0.4% to EUR 59.3 billion, dragged down by declines in imports from both eurozone countries, which fell 0.3%, and EU countries outside the eurozone, which dropped 0.7%. On a yearly basis, total imports grew 6%, accelerating from an upwardly revised 3.2% increase in the previous month. In the first eight months of the year, Germany’s total imports reached EUR 946.7 billion, up 4.4% from the corresponding period a year earlier.

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.