Germany's trade surplus declined to €15.4 billion in June 2026 from an upwardly revised €19.3 billion in May, below expectations of €17.4 billion, as imports rose more than exports. Exports grew by 0.9% month-on-month to a nearly four-year high of €139.3 billion in June 2026, following an upwardly revised 1.1% gain in May and beating expectations of 0.2% growth. Meanwhile, imports increased 2.4% month-on-month to an over 3-1/2-year high of €123.9 billion in June 2026, rebounding from a marginally revised 2.6% drop in May and surpassing estimates of a 1.0% rise.