FX.co ★ Germany Posts Smallest Trade Surplus in 11 Months

Germany's trade surplus contracted to EUR 15.3 billion in September 2025, down from a revised EUR 16.9 billion in August, and falling short of market expectations of EUR 16.8 billion. This represents the smallest trade surplus since October 2024. The discrepancy arose as exports increased slightly less than imports. Specifically, exports rose 1.4% month-on-month, reaching a five-month peak at EUR 131.1 billion—a figure that surpassed the projected 0.5% increase and followed a revised 0.8% decline in August. On the import side, there was a 1.3% rise, bringing it to a 28-month peak of EUR 115.9 billion, following a revised 1.3% fall in the previous month and outperforming the expected 0.5% increase. Cumulatively, for the first nine months of the year, Germany achieved a trade surplus of EUR 151.5 billion, with exports and imports increasing by 0.7% and 4.8%, respectively.