Germany January 2026 Export-Import Report: Growing Trade Surplus

Source: Dukascopy Bank SA
In January 2026, Germany's foreign trade showed a decline in both exports and imports compared to December 2025, but the trade surplus continued to grow. Exports totaled 130.5 billion euros, down 2.3% from the previous month, while imports fell 5.9% to 109.2 billion euros. As a result, the trade surplus increased to 21.2 billion euros, up from 17.4 billion euros in December 2025 and 15.9 billion euros in January 2025.



Year-on-year, exports were slightly higher by 0.6%, while imports dropped by 4.0%. Trade with EU countries decreased, with exports falling 4.8% to 71.6 billion euros and imports declining 6.5% to 55.6 billion euros. In contrast, exports to non-EU countries rose 1.0% to 58.8 billion euros, while imports from these countries fell 5.3% to 53.6 billion euros.

Among key partners, the United States remained Germany's top export destination with 13.2 billion euros in goods, up 11.7% from December, while imports from the US decreased 8.2% to 7.2 billion euros. Trade with China showed a notable decline, with exports dropping 13.2% to 6.3 billion euros and imports falling 8.3% to 14.2 billion euros. Trade with Russia continued to shrink, with exports down 8.3% to 0.5 billion euros and imports plunging 20.0% to 0.1 billion euros.
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