| Actual | Previous | Revised | |
| Balance | €14.9B | €18.4B | €18.6B |
| Imports - M/M | 4.2% | -3.8% | -3.9% |
| Imports - Y/Y | 5.9% | 6.1% | 5.9% |
| Exports - M/M | 0.8% | -1.4% | -1.4% |
| Exports - Y/Y | 0.1% | 2.8% | 2.9% |
Highlights
Germany's foreign trade in June 2025 showed that exports inched up by 0.8 percent to €130.5 billion, while imports surged by 4.2 percent to €115.6 billion compared to May. This strong rebound in import demand, especially from non-EU countries, reduced the trade surplus to €14.9 billion, the lowest in over a year and well below the €20.3 billion recorded in June 2024.
Trade within the EU remained robust, with exports to eurozone countries growing by 3.1 percent, driven by stronger regional demand. However, exports to key non-EU markets showed mixed signals. Shipments to the US fell for the third straight month (minus 2.1 percent), marking their weakest level since February 2022. In contrast, exports to China rose slightly (1.1 percent), and the UK posted a modest gain (0.4 percent).
Imports told a different story. China remained Germany's top import partner, with a 5.8 percent monthly rise, while imports from the US jumped nearly 20 percent, a sharp uptick. Interestingly, imports from Russia, though still minimal, rose by 46 percent, while exports to Russia also climbed 10.3 percent.
Overall, while German exports show resilience, surging imports, especially of energy and high-demand consumer goods, signal potential supply chain recalibrations and inflationary undercurrents in Europe's largest economy.
Definition
The merchandise trade balance measures the difference between imports and exports of goods. The level of the international trade balance, as well as changes in exports and imports, indicate trends in foreign trade and can offer a guide to an economy's competitiveness.
Description
Changes in the level of imports and exports, along with the difference between the two (the trade balance) are a valuable gauge of economic trends here and abroad. While these trade figures can directly impact all financial markets, they primarily affect currency values in foreign exchange markets.
Imports indicate demand for foreign goods and services in Germany. Exports show the demand for German goods in countries overseas. Given the size of the German economy, the euro can be sensitive to changes in the trade balance. The bond market is also sensitive to the risk of importing inflation. This report gives a breakdown of trade with major countries as well, so it can be instructive for investors who are interested in diversifying globally. For example, a trend of accelerating exports to a particular country might signal economic strength and investment opportunities in that country.