Deutschland Handelsbilanzsaldo

Germany’s trade surplus widened to €16.9 billion in October 2025, up from €15.3 billion in September and surpassing expectations of €15.2 billion. Exports unexpectedly edged up 0.1% to a six-month high of €131.3 billion, beating expectations of a 0.2% decline, supported by stronger demand from EU trading partners, where exports rose 2.7%, including gains of 2.5% to the euro area and 3.1% to non-euro-area countries. By contrast, shipments to third countries dropped 3.3%, including a 7.8% fall in exports to the US, Germany’s largest export destination, amid the lingering impact of US tariffs, after an 11.9% surge in September. Shipments also fell to the UK and China. Imports unexpectedly fell 1.2% to €114.5 billion, missing forecasts of a 0.2% increase, weighed down by lower purchases from third countries, including China, the US, the UK, and Russia. Over the first ten months of 2025, Germany recorded a trade surplus of €169 billion, as exports grew just 1.1%, while imports rose 4.6%.