Germany’s trade surplus widened to €21.3 billion in July 2026 from €15.4 billion in June, exceeding expectations of €16 billion and marking its largest surplus since August 2024. The latest import account puts July imports at €119.6 billion, down 5.7% month-on-month, compared with €116.9 billion in the earlier account. Imports from EU member states fell 6.1%, including declines of 6.5% from eurozone countries and 5.1% from EU countries outside the eurozone. Imports from third countries decreased 5.3%, led by lower purchases from China, the US and the UK. Imports still rose 3.1% year-on-year in July, slowing from a downwardly revised 14% increase in June, while January-July imports reached €828.4 billion, up 4.2% annually. The earlier account reported exports down 0.8% to €138.2 billion, with shipments to EU countries and China declining while exports to the US increased. From January through July, exports rose 4% to €954.2 billion.