FX.co ★ German Imports Reverse Course in May, Falling 2.5% Month-on-Month

Germany’s import activity weakened in May 2026, with seasonally adjusted imports declining by 2.5% compared to the previous month, according to data updated on 9 July 2026. The move marks a sharp reversal from April 2026, when imports had risen by 1.2% month-on-month.

On a month-over-month basis, the latest reading indicates that the momentum in foreign goods inflows into Europe’s largest economy has cooled notably. While April’s growth suggested a short-term pick-up in external demand or restocking by German firms, May’s contraction highlights increasing volatility in trade flows.

The data are presented on a month-over-month comparison basis, meaning the May figure reflects the change from April 2026, while the previous 1.2% figure shows the change in April relative to March 2026. Investors and policymakers will be watching subsequent releases to determine whether May’s decline is a temporary pullback or the beginning of a more sustained softening in import demand.