Germany’s trade surplus narrowed to €19.5 billion in August 2026 from a revised two-and-a-half-year high of €21.6 billion in July, but came slightly above expectations of a €19 billion surplus, as exports declined while imports increased. Exports fell 0.8% month-on-month to €137.6 billion, with shipments to EU countries down 0.6% and those to third countries falling 1.1%. Within third countries, exports to the US dropped 6.3%, while shipments to China rose 4.7% and those to the UK jumped 16.7%. Meanwhile, imports increased 0.9% to €118.1 billion, with imports from EU countries down 0.4% but those from third countries rising 2.2%. Imports from China surged 11%, while those from the US fell 0.5% and from the UK declined 3.8%. On an annual basis, exports rose 6.2% and imports increased 5.5%. From January to August, Germany’s trade surplus stood at €146 billion, with exports up 4.4% and imports also rising 4.4% from the same period last year.