Germany's trade surplus widened to €19.1 billion in May 2026 from an upwardly revised €14.7 billion in April, surpassing expectations of €14.8 billion, marking the largest trade surplus since February. Exports unexpectedly increased by 0.9% mom to an over 3,5-year high of €137.9 billion in May 2026, accelerating from a downwardly revised 0.8% rise in April and beating expectations of a 0.3% decline. Exports to third countries rose 3.6%, supported by a 23.1% surge in shipments to the US, Germany's largest export market. Meanwhile, imports fell 2.5% mom to a three-month low of €118.8 billion in May 2026, reversing a marginally revised 1.1% gain in April and missing estimates of a 0.1% growth. Imports from EU member states fell 2.5%, while those from non-EU countries dropped 2.6%, amid a decline in shipments from China (-2.0%). For the first five months of the year, the country posted a trade surplus of €88.4 billion, with exports and imports climbing 3.0% and 3.7%, respectively.