Economic Calendar
German Trade Surplus Largest in Two Years

Germany’s trade surplus widened to €21.3 billion in July 2026 from €15.4 billion in June, exceeding expectations of a rise to €16 billion and marking the largest trade surplus since August 2024, as exports fell less sharply than imports. Exports went down 0.8% month-on-month to €138.2 billion, compared to expectations of a flat reading, as sales to EU countries declined 1.6%, while shipments to third countries edged up 0.2%, supported by a 19.1% jump in exports to the US. Exports to China fell 9.5%, while those to the UK declined 7.2%. Meanwhile, imports dropped 5.7% to €116.9 billion, as imports from EU countries fell 6.1%, while those from third countries decreased 5.3%, led by a 7.5% decline in imports from China.






