FX.co ★ German Exports Fall More than Expected

In May 2025, German exports experienced a decline of 1.4% from the previous month, reaching a four-month nadir at EUR 129.4 billion. This follows a revised decrease of 1.6% in April and falls short of market forecasts, which anticipated only a 0.2% drop. Notably, exports to the United States plummeted by 7.7%, hitting their lowest point since March 2022, a decline attributed to tariffs still in effect from the Trump administration era. Exports to China saw a reduction of 2.9%, while shipments to Russia fell significantly by 12.2%. Exports to the European Union also dropped, down by 2.2%; within this, shipments to Eurozone countries decreased by 2.6%, and those to non-Eurozone EU countries decreased by 1.3%. Conversely, exports to non-EU nations dipped by 0.3%. However, exports to the United Kingdom increased markedly, surging by 15.1%. In the first five months of 2025, Germany’s cumulative exports slightly increased by 0.2% year over year, amounting to EUR 655.0 billion.