Germany’s trade surplus with the United States at lowest level in five years

According to data from the Federal Statistical Office of Germany (Destatis), the surplus of “Made in Germany” products with the US decreased by 15.1% compared to the same period last year.

The decline was driven by a 5.3% decrease in exports to the US to EUR 89.9 billion, while imports increased by 2.2% to EUR 55.3 billion. Despite the fall, the US remained the country with which Germany recorded the highest trade surplus in the first seven months of the year.

Germany’s exports to Türkiye increased by 9.4% in the same period, reaching EUR 17.8 billion, while imports from Türkiye rose by 10.8% to around EUR 15.3 billion. The trade surplus with China increased by EUR 16.7 billion to EUR 47.7 billion.

In 2024, Germany’s trade surplus with the US had reached a record EUR 70 billion. Experts emphasized that protectionist policies by Washington and Beijing, as well as increasing competition, have put pressure on German exports.

Sharp decline in producer prices

Germany’s producer price index (PPI) decreased by 2.2% year on year in August, marking the sharpest decline in 16 months. A fall of 8.5% in energy prices and 11% in natural gas was decisive in this drop. Excluding energy, PPI increased by 0.8% year-on-year.