Germany’s Trade Surplus Shrinks Sharply as Imports Surge and US Exports Slide

Germany’s trade balance weakened sharply in March 2026 as imports jumped far faster than exports, narrowing the country’s surplus and highlighting softer demand from major trading partners. According to the Federal Statistical Office, exports rose 0.5% from February to 135.8 billion euros, while imports climbed 5.1% to 121.5 billion euros. The trade surplus dropped to 14.3 billion euros from 19.6 billion euros in February. Compared with March 2025, exports increased 1.9%, while imports surged 7.2%. Exports to European Union countries rose 3.4%, but shipments to countries outside the bloc fell 3.3%. Exports to the United States, Germany’s largest export market, dropped 7.9% from February and plunged 21.4% from a year earlier to 11.2 billion euros, the steepest annual decline since June 2020. Exports to China fell 1.8%, while exports to the United Kingdom increased 3.2%. Imports from China rose 4.9%, while imports from the United Kingdom jumped 11.7%.