Germany's trade surplus narrowed to €14.5 bil (vs €15.0 bil expected) in April as exports rose +0.9% MoM while imports increased a faster +1.2% MoM.

• On a YoY basis, exports were up +3.6% and imports climbed +6.2%, resulting in a trade surplus of €14.5 bil, down from €14.7 bil in March and below the €16.9 bil surplus recorded a year ago.
• Trade with the EU remained supportive. Exports to EU countries increased +1.0% MoM, while imports rose +0.4%. Exports to non-euro area EU members were particularly strong, rising +3.0% MoM.
• Trade outside the EU was more mixed. Exports to third countries rose +0.7% MoM, but imports increased +2.0% MoM, contributing to the narrowing trade surplus.
• The United States remained Germany's largest export destination. Exports to the US increased +1.8% MoM to €11.4 bil, though they were still down -12.9% YoY. Exports to the UK fell -9.5% MoM and exports to China declined -3.5% MoM.
• On the import side, China remained Germany's largest supplier, with imports rising +0.2% MoM. Imports from the US increased +7.6% MoM, while imports from the UK fell -4.7% MoM.
• Overall, the report points to continued resilience in German trade flows, though stronger import growth and softer exports to key markets such as China and the UK limited improvement in the trade balance.

Germany’s goods exports fell -0.5% MoM (vs +0.3% MoM expected) and -0.7% YoY to €129.7 billion in August 2025, while imports fell -1.3% MoM (vs -0.5% MoM expected) but rose +3.5% YoY to €112.5 billion, leaving a seasonally adjusted surplus of €17.2 billion, reflecting softer export momentum and stronger import growth.

• Exports decreased -0.5% MoM and -0.7% YoY to €129.7 billion, pointing to weaker external demand relative to a year ago.

• Imports declined -1.3% MoM but increased +3.5% YoY to €112.5 billion, driven by higher annual inward flows despite the monthly drop.

• The seasonally adjusted trade surplus was €17.2 billion in August 2025, up from €16.3 billion in July and down from €21.9 billion in August 2024, narrowing the external balance versus the prior year.

• Trade with the EU showed exports of €72.5 billion (-2.5% MoM) and imports of €58.8 billion (-1.9% MoM), with both euro-area exports (€50.8 billion, -2.2% MoM) and non-euro EU partners contributing to the monthly decline.

• Trade with non-EU (third) countries recorded exports of €57.1 billion (+2.2% MoM) and imports of €53.7 billion (-0.7% MoM), with third-country trade supporting the monthly export outturn.

• Bilateral highlights: exports to the United States fell -2.5% MoM to €10.9 billion (fifth consecutive monthly drop; -20.1% YoY), exports to China rose +5.4% MoM to €6.8 billion, and exports to the UK fell -6.5% MoM to €6.5 billion.

• Energy/other trade notes: exports to Russia rose sharply +53.5% MoM to €0.8 billion (+31.8% YoY), while imports from Russia fell -8.5% MoM to €0.1 billion (-27.1% YoY).

• Unadjusted (nominal) values show exports of €115.6 billion (-3.9% YoY) and imports of €102.9 billion (+1.0% YoY), yielding a non-adjusted surplus of €12.8 billion, down from €18.4 billion a year earlier.