Germany’s current account surplus fell to EUR 18.6 billion in September 2025, down from EUR 21.7 billion in the same month a year earlier, mainly driven by widening deficits in services and secondary income accounts, which more than offset gains in goods trade. The services deficit widened to EUR 6.9 billion (from EUR 5.4 billion) and the secondary income deficit increased to EUR 6.2 billion (from EUR 4.4 billion), while the primary income surplus edged slightly lower to EUR 13.3 billion (from EUR 13.4 billion). In contrast, the goods surplus improved modestly to EUR 18.4 billion (from EUR 18.1 billion), as a 4.1% rise in exports slightly outpaced a 4.5% increase in imports. Over the first nine months of 2025, Germany’s current account surplus narrowed to EUR 154.3 billion, compared with EUR 200.2 billion in the same period of 2024.