According to the Federal Statistical Office (Destatis), Germany recorded an export surplus of €12.4 billion in goods trade with the United States during the first quarter of 2026. This figure marks a significant decline of 30.5% compared to the same period in the previous year, when the surplus was €17.8 billion.
Overall, merchandise exports from Germany totaled €36.2 billion to the US during the first quarter of 2026, while imports amounted to €23.8 billion. These exports experienced a year-over-year drop of 12.1%, even as imports rose by 1.9%. The principal detractor from Germany’s external trade balance in Q1 2026 was the sharp decline in exports of motor vehicles and components.
The trade of vehicles and parts accounted for the largest portion of the German export surplus with the US in Q1 2026, posting a surplus of €5.0 billion. Nevertheless, this surplus was down 35.5% compared to Q1 2025, when it stood at €7.8 billion. In total, Germany exported vehicles and components worth €6.5 billion to the US, reflecting a 28.4% decrease from the previous year. In contrast, imports in this category rose by 13.2% to reach €1.5 billion. Analyzing the types of vehicles, the export surplus for internal combustion engine (ICE) only vehicles was €2.0 billion. Hybrid vehicles contributed a surplus of €0.5 billion, while pure electric cars added €0.4 billion. Separately, the overall surplus for machinery remained positive at €4.9 billion (Exports: €6.5 billion, -6.4% year-on-year; Imports: €1.6 billion, -11.0%). This positive balance was an overall decrease of 4.8% from Q1 2025.
Other major components contributing to a positive trade balance for Germany included pharmaceutical products, which showed a surplus of €3.4 billion (-18.7% year-on-year), and electrical equipment, with a surplus of €1.9 billion (-5.3%).
Conversely, the trade balance for mineral fuels presented import surpluses. The largest such deficit was observed in oil and Liquefied Natural Gas (LNG), both contributing a combined external trade deficit of €3.0 billion. Similarly, the trade balance with the US for coal and coke products was also negative, recording a deficit of €0.3 billion each.
