Germany’s trade surplus narrowed to €14.6 billion in April 2025, down from €21.3 billion in March, as exports fell -1.7% MoM and imports rose +3.9% MoM (seasonally adjusted).

• Exports were down -2.1% YoY to €131.1B, while imports rose +3.8% YoY to €116.5B.
• Exports to non-EU countries dropped -4.8% MoM, with sharp declines to the US (-10.5% MoM), China (-5.9%), and UK (-2.1%).
• Imports from EU countries rose +4.5% MoM; imports from the US increased +3.9% MoM, while imports from China fell -4.1%.
• Trade with Russia continued to collapse: imports down -22.6% MoM and -50.3% YoY, exports down -5.3% MoM and -9.3% YoY.