German Exports Rise in May as US Shipments Jump and the Trade Surplus Widens to 19.1 Billion Euros
German exports rose 0.9 percent in May from the previous month to 137.9 billion euros on a calendar and seasonally adjusted basis, while imports fell 2.5 percent to 118.8 billion euros, widening the trade surplus to 19.1 billion euros from 14.7 billion euros in April, the federal statistics office Destatis said on Thursday.
The swing came from outside the European Union. Exports to third countries rose 3.6 percent on the month, led by a 23.1 percent jump in shipments to the United States to 14.1 billion euros, which were also 15.4 percent higher than a year earlier. Exports to China rose 7.1 percent on the month to 6.2 billion euros, though they remained 13.0 percent below their year-earlier level.
Within Europe the picture was softer, with exports to the EU down 1.1 percent on the month and eurozone-bound shipments off 0.5 percent, while imports from the eurozone fell 4.3 percent.
The surplus widened by 4.4 billion euros, or about 30 percent, from April, our calculation. On the year, adjusted exports were up 6.1 percent and imports 6.9 percent.
Why it matters: Germany is Europe’s largest economy and a key trading partner for the Gulf and Egypt, and a US-led rebound in its exports is a positive external-demand signal. Firmer German trade activity also supports demand for the region’s energy and petrochemical exports.
Outlook: The next tests are June factory orders and industrial production, whether the US shipment surge holds, and how the European Central Bank reads the trade data alongside signs of cooling inflation in France.
| Indicator, May 2026 adjusted | Level | Change |
|---|---|---|
| Exports | 137.9bn euros | +0.9% m/m |
| Imports | 118.8bn euros | -2.5% m/m |
| Trade surplus | 19.1bn euros | vs 14.7bn in April |
| Exports to the US | 14.1bn euros | +23.1% m/m |
| Exports to China | 6.2bn euros | +7.1% m/m |
| Exports to the EU | 78.3bn euros | -1.1% m/m |
Sources: Destatis.
