Germany’s trade surplus with the United States has fallen to its lowest level for the first seven months of a year since 2021, reaching €34.6 billion (approximately $36.8 billion USD) during January to July 2025. This marks a significant decrease from the €28.4 billion recorded during the COVID-19 crisis.
According to data released by the Federal Statistical Office (Destatis), the trade surplus with the United States declined by €6.2 billion, or 15.1 percent, compared to the same period in the previous year. Globally, Germany’s overall trade surplus has also contracted, shrinking by €32.7 billion, a 21.2 percent reduction, to €121.3 billion.
The diminished trade surplus with the U.S. stems from an increase in imports into Germany from that nation, coupled with a decrease in German exports. Exports to the United States decreased by 5.3 percent, totaling €89.9 billion, while imports from the U.S. rose by 2.2 percent to €55.3 billion. Despite the decline, the United States remains Germany’s most important trade partner, still generating the largest export surplus.
The gap between Germany’s trade surplus with the U.S. and that with its second-largest trade partner, France, has narrowed considerably. France’s trade surplus experienced a slight decrease of 0.2 percent year-on-year, reaching €30.4 billion. This represents a reduction of just €4.2 billion compared to the U.S. – a significant contrast to the €10.3 billion gap observed in the first seven months of 2024.
Significant declines were also observed in Germany’s trade surpluses with other nations. Following the U.S., Mexico recorded the next largest reduction (€1.8 billion, a 32.6 percent decrease), followed by Italy (€1.6 billion, down 19.5 percent) and Canada (€1.5 billion, a 41.0 percent reduction). The resulting trade surpluses with Mexico, Italy and Canada currently stand at €3.6 billion, €6.6 billion and €2.1 billion, respectively.
Conversely, Germany’s trade surpluses with countries from which it imports more than it exports have increased substantially during the January to July 2025 period. Notably, the trade surplus with the People’s Republic of China rose to €47.7 billion, an increase of €16.7 billion (+54.1 percent) compared to the previous year – a level last surpassed only in the first seven months of 2022, when the surplus reached €47.9 billion.
Significant increases in trade surpluses were also recorded with Vietnam (+€1.9 billion, +28.4 percent), Hungary (+€1.6 billion, +141.8 percent) and the Czech Republic (+€1.4 billion, +36.7 percent). Current trade surpluses with Vietnam, Hungary and the Czech Republic are €8.6 billion, €2.6 billion and €5.3 billion, respectively.
