Berlin: Germany’s trade surplus narrowed sharply in November 2025 as exports declined and imports continued to rise, underscoring growing pressure on Europe’s largest economy from weakening external demand.
Data released on Thursday by Federal Statistical Office of Germany (Destatis) showed that German exports fell 2.5 per cent month on month in November after seasonal and calendar adjustments, while imports increased 0.8 per cent.
As a result, the trade surplus shrank to €13.1 billion, down from €17.2 billion in October and €20.0 billion in November 2024.
On an annual basis, exports declined 0.8 per cent, while imports rose 5.4 per cent, highlighting a widening gap between outbound and inbound trade flows.
EU demand weakens
The slowdown was most pronounced in trade with European Union partners.
According to Destatis, exports to EU countries fell 4.2 per cent compared with October, while imports from EU members declined 4.0 per cent. The figures point to softening intra-European demand at a time when Germany’s export-led model is under strain.
Trade with countries outside the EU followed a different pattern. Exports to third countries edged down 0.2 per cent, while imports from non-EU economies jumped 6.3 per cent month on month.
Sharp drop in U.S. shipments
Among individual trading partners, the United States remained Germany’s largest export destination, but shipments continued to weaken. Exports to the U.S. fell 4.2 per cent from October to €10.8 billion.
Compared with November 2024, exports to the U.S. plunged 22.9 per cent after seasonal adjustments, marking one of the steepest year-on-year declines among Germany’s major trading partners.
Exports to China rose on the month, while shipments to the United Kingdom declined, Destatis said.
External pressures persist
The latest figures add to concerns about Germany’s reliance on foreign demand amid slowing global growth, shifting trade patterns and persistent geopolitical uncertainty.
Economists say continued weakness in exports, particularly to key markets such as the United States and within the EU, could weigh on industrial output and broader economic growth in the months ahead.
