FX.co ★ German Current Account Surplus Widens in May

Germany’s current account surplus stood at €10.4 billion in May 2026, the smallest monthly surplus in a year yet still significantly higher than the €5.9 billion recorded in May 2025. The primary income balance swung into a surplus of €5.7 billion, following a deficit of €2.3 billion a year earlier. The goods surplus was broadly stable at €15.4 billion, only slightly below €15.8 billion in May 2025, as exports grew by 0.6% to €112.9 billion and imports rose by 1.1% to €97.5 billion. By contrast, the services deficit widened to €7.2 billion from €5.9 billion, and the secondary income deficit increased to €3.5 billion from €1.6 billion. Over the period from January to May 2026, the current account surplus edged down to €88.7 billion from €90 billion in the same period of the previous year.