German trade surplus narrows as imports surge to 27-month high
By Benjamin Chiou
Date: Friday 07 Nov 2025
(Sharecast News) - Germany's trade surplus fell more than expected in September on the back of a sharp rise in imports to the highest level in two and a half years, according to data out on Friday from Destatis.
The calendar and seasonally adjusted trade balance declined to €15.3bn from a revised €16.9bn in August, and below the €18.0bn recorded in September 2024, the Federal Statistics Office reported.
This was well below the consensus forecast of €16.8bn and the smallest surplus since October 2024.
Exports of Germany-made goods rose 1.4% over the month to a five-month high of €131.1bn, topping a 0.5% increase expected by analysts following August's 0.8% contraction.
However, imports jumped 3.1% to €115.9bn, marking the first monthly increase since June and rising to the highest level since May 2023. This followed a 1.4% slip the previous month and was well ahead of the 0.5% gain expected by the market.
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