Europa Posted on 2025-11-10 12:28:00

Germany's trade surplus in free fall - Reaches lowest level since October last year

From Kristi Ceta

Germany's trade surplus in free fall - Reaches lowest level since October

Germany's trade surplus shrank further in September, reaching its lowest level since October 2024, as stronger-than-expected growth in imports outweighed expansion in exports.

According to preliminary data published by the Federal Statistical Office (Destatis), seasonally adjusted exports increased by 1.4% compared to the previous month, reaching 131.1 billion euros, while imports increased by 3.1% to 115.9 billion euros.

That reduced the monthly trade surplus to 15.3 billion euros, compared with 16.9 billion euros in August and 18.0 billion euros a year earlier. The figures were below economists' expectations, which had forecast a stable surplus of 16.9 billion euros.

During the first nine months of 2025, total exports reached 1.18 trillion euros, marking an increase of 0.7% compared to the same period in 2024. But imports expanded more by 4.8%, to 1.03 trillion euros, indicating a weakening trend in the annual trade balance.

Imports from outside the EU were a key factor, rising by 5.2% compared to the previous month. In particular, imports from China, the country's largest supplier, expanded by 6.1% to 14.6 billion euros. Goods from the United States grew even more, by 9.0% to 8.7 billion euros, while the United Kingdom saw an expansion of 20%.

Meanwhile, exports to the US rose after five months of contraction by 11.9% to 12.2 billion euros. However, the figures remained 7.4% lower than in September 2024, reflecting the effects of Trump's tariffs. Germany's trade surplus remains largely supported by trade within the European Union.

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