German Exports Rose for the Fourth Consecutive Month in May
Wiesbaden, 09 July 2026
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Summary
German exports rose for the fourth consecutive month in May 2026. As the Federal Statistical Office in Wiesbaden announced, exports climbed by 0.9 percent to 137.9 billion euros on a calendar- and seasonally-adjusted basis, driven primarily by deliveries to the USA.
Wiesbaden, 09 July 2026
German exports rose for the fourth consecutive month in May 2026 and stood at 137.9 billion euros on a calendar- and seasonally-adjusted basis, as the Federal Statistical Office in Wiesbaden announced on the basis of preliminary results.
Compared to the same month last year, May 2025, this represented an increase of 6.1 percent. Exports thus rose again, exceeding the expectations of many economists. "Die deutschen Exporte sind dank eines starken Geschäfts mit den USA im Mai den vierten Monat in Folge gewachsen", according to the dpa news channel.
According to the statisticians, the main reason for the increase was higher demand, particularly from the USA and China. Most German exports again went to the USA: Goods worth 14.1 billion euros were exported there in May, "fast ein Viertel (23,1 Prozent) mehr als im April", as the Federal Statistical Office announced. Measured against the same month last year, exports to the United States were up by a good 15 percent.
Economic Sentiment
Wirtschaftliche Stimmung
Thomas Gitzel, chief economist of VP Bank, spoke of a strong month for the German economy. "Für die deutsche Wirtschaft war der Mai ein guter Monat", said Gitzel. "Die vielerorts befürchtete wirtschaftliche Delle im zweiten Quartal dürfte ausbleiben." Gitzel also pointed out that the hefty export growth vis-à-vis the USA should not be interpreted as a turning point in transatlantic trade.
Indeed, the bank economist views the development with ambivalence in light of US trade policy. "Die Handelshemmnisse haben sich mit den Trump´schen Zöllen erhöht, gleichzeitig verlagern viele Unternehmen ihre Produktion direkt in die USA", said Gitzel. As a result, export volume across the Atlantic will be sustainably lower.
The economy in the export destination itself is also supporting demand for German goods. "Den Exporten hilft, dass die US-Wirtschaft weiter dampft", said ABN Amro Germany's chief economist, Alexander Krüger. The US economy is considered more robust than the European one, which benefits German manufacturers in the automotive industry, mechanical engineering, and chemicals, among others.
Deliveries to EU States Developed More Weakly, by Contrast
Lieferungen in die EU-Staaten entwickelten sich dagegen schwächer
Deliveries to the EU states developed more weakly, by contrast. Goods worth 78.3 billion euros were exported to the EU states in May, a decrease of 1.1 percent compared to April. The EU single market thus remains the largest sales region for German products, but momentum is lacking. Overall, exports to the member states of the European Union therefore declined slightly.
Growth Driver United Kingdom
Wachstumstreiber Großbritannien
The situation in the United Kingdom was somewhat better. Exports to the United Kingdom rose slightly compared to the previous month, to 6.7 billion euros. The United Kingdom has proven itself to be a comparatively stable trading partner in recent months, even though the volume is significantly smaller compared to the USA or the EU.
At the same time, imports declined in May. Imports into Germany fell by 2.5 percent in May compared to April, to 118.8 billion euros. Compared to the same month last year, May, however, this represented an increase of 6.9 percent. Germany's foreign trade balance thus improved: Germany's foreign trade balance showed an overall surplus of 19.1 billion euros, significantly more than in April (14.7 billion euros).
Background and Risks
Hintergründe und Risiken
The data were released on a preliminary basis on Thursday. Retail sales, industrial orders, and production also grew in May. This points to a broader economic recovery, even though the underlying conditions remain difficult.
The main burdens are higher energy prices and elevated inflation, which are unsettling consumers. Subsequently, oil prices also rose after US President Donald Trump declared the provisional ceasefire null and void on Wednesday and ordered strikes on targets in Iran again. "Trotz Belastungen durch den Iran-Krieg sind die deutschen Exporte im Mai überraschend den vierten Monat in Folge gestiegen", according to the report.
Economic Output 2026
Wirtschaftsleistung 2026
The economic outlook for Germany remains subdued, however. In the first quarter, growth had amounted to 0.3 percent. For the full year 2026, most economists forecast growth of roughly half a percent. The so-called Council of Economic Experts expects only minimal growth of 0.5 percent this year.
Economists had on average expected a slight decline, which is why the figures now published are regarded as a positive surprise. The combination of strong US business and robust industrial production supported foreign trade.
Chinese Goods in Germany
Chinesische Waren in Deutschland
On the import side, China continues to dominate: Most imports again came from China: Goods worth 15.1 billion euros were imported from there to Germany, two percent more than in the previous month. Imports from the USA rose by 11.5 percent to 9.5 billion euros, making the United States the second-largest supplier to the German market after China.
Cautious Outlook
Vorsichtiger Ausblick
Overall, the export value stood at just under 138 billion euros. Compared to the previous month of April, exports rose by 0.9 percent on a calendar- and seasonally-adjusted basis. The data were published by the Federal Statistical Office (Destatis). The report was broadcast on Deutschlandfunk on 09.07.2026.
Despite the strong May figures, economists are warning against premature euphoria. The burdens from the Middle East conflict, US tariff policy, and persistently elevated inflation could slow the recovery again in the coming months. Much is therefore at stake for the German economy: If the momentum from May can be carried into the summer months, the minimal growth for 2026 could ultimately be slightly exceeded.
Questions & Answers
How high were German exports in May 2026?
Exports stood at 137.9 billion euros on a calendar- and seasonally-adjusted basis, rising by 0.9 percent compared to April. Compared to the same month last year, May 2025, the increase amounted to 6.1 percent.
Which country was the largest buyer of German exports in May?
The USA was once again the most important export country: Goods worth 14.1 billion euros were delivered there in May, an increase of 23.1 percent compared to April and roughly 15 percent more than in the same month last year.
What risks do economists see for German foreign trade?
Thomas Gitzel of VP Bank warns that US tariffs and production relocations are likely to permanently reduce export volume across the Atlantic. In addition, higher energy prices, elevated inflation, and the Iran conflict are weighing on the economy.
German Exports May 2026: Increase Thanks to US Business | allfacts360
