FX.co ★ German Current Account Surplus Widens in March

Germany's current account surplus expanded to EUR 34.1 billion in March 2025, marking an increase from EUR 29.5 billion a year prior. This growth was largely attributed to a rise in the primary income surplus, which climbed to EUR 19.9 billion from EUR 15.7 billion, alongside a reduction in the services deficit to EUR 3.0 billion from EUR 3.3 billion. However, the goods surplus experienced a slight decline, decreasing to EUR 22.4 billion from EUR 23.5 billion, as imports rose by 4.3% compared to a 2.5% increase in exports. Additionally, the secondary income deficit improved, narrowing to EUR 5.2 billion from EUR 6.4 billion. Nonetheless, for the entirety of the first quarter of 2025, the current account surplus fell to EUR 75.3 billion from EUR 82.7 billion during the corresponding period in 2024.