Germany: Merchandise exports continue to rise amid front-loading in March
Latest reading: Merchandise exports rose 1.1% month on month in seasonally adjusted terms in March, deteriorating from February’s 1.8% rise. Still, the increase was the fifth straight amid front-loading ahead of U.S. tariffs. Meanwhile, merchandise imports fell 1.4% on a monthly basis in March (February: +0.5% mom s.a.).
As a result, the merchandise trade balance improved from the previous month, recording a EUR 23.3 billion surplus in March (February 2025: EUR 18.6 billion surplus; March 2025: EUR 21.8 billion surplus). Lastly, the trend rose, with the 12-month trailing merchandise trade balance recording a EUR 227.1 billion surplus in March, compared to the EUR 225.6 billion surplus in February.