Germany's trade surplus shrinks in June as imports outpace exports

Germany’s foreign trade surplus narrowed in June 2025 as imports grew at a faster pace than exports, according to provisional data from the Federal Statistical Office (Destatis). On a calendar and seasonally adjusted basis, exports rose 0.8 per cent from May to €130.5 billion (~$151.74 billion), while imports increased 4.2 per cent to €115.6 billion (~$134.42 billion). This left a trade surplus of €14.9 billion (~$17.33 billion), down from €18.5 billion (~$21.51 billion) in May and €20.3 billion a year earlier.

Year-on-year, exports increased 2.4 per cent and imports surged 7.9 per cent.

Germany exported €73 billion worth of goods to EU member states in June, up 2.4 per cent from May, while imports from the bloc rose 3.5 per cent to €59.6 billion. Exports to euro area countries climbed 3.1 per cent to €50.7 billion, with imports up 3.9 per cent to €39.3 billion. Trade with non-euro EU members also increased, with exports up 1 per cent to €22.3 billion and imports rising 2.8 per cent to €20.4 billion.

Exports to non-EU countries fell 1.2 per cent to €57.5 billion, while imports jumped 5 per cent to €56 billion, Destatis said in a release.

The US remained Germany’s top export market, though shipments fell 2.1 per cent from May to €11.8 billion — the lowest since February 2022 and down 8.4 per cent year-on-year (YoY). Exports to China rose 1.1 per cent to €6.9 billion, while those to the UK edged up 0.4 per cent to €7.2 billion.

China was also Germany’s largest source of imports, with inflows rising 5.8 per cent to €14.6 billion. Imports from the US surged 19.8 per cent to €8.8 billion, the highest since June 2022, while UK imports declined 5.5 per cent to €3 billion.

Exports to Russia increased 10.3 per cent month-on-month to €0.6 billion, up 3.6 per cent from June 2024. Imports from Russia surged 46 per cent from May to €0.1 billion but were still 17.7 per cent lower YoY.

On a nominal basis (not seasonally or calendar adjusted), exports stood at €128.7 billion and imports at €113.2 billion, leaving a surplus of €15.5 billion — down from €21.6 billion in June 2024. Compared with a year earlier, exports rose just 0.1 per cent, while imports increased 5.9 per cent.

Fibre2Fashion News Desk (HU)