FX.co ★ German Current Account Surplus Edges Lower in October

Germany's current account surplus saw a slight reduction to €14.80 billion in October 2025, compared to a revised €15.21 billion from the same month the previous year. The primary income surplus fell to €13.23 billion from €14.78 billion, while the secondary income deficit expanded to €6.26 billion from €5.97 billion. However, trade data offered some positive news: the goods surplus rose to €16.70 billion from the previous year's €15.50 billion in October 2024, thanks to a 4.5% increase in exports reaching €122.0 billion, while imports grew more modestly by 4.0% to €105.30 billion. The services deficit also saw a slight improvement, narrowing to €8.87 billion from €9.11 billion. Notably, over the first ten months of the year, the total current account surplus decreased to €167.03 billion from €216.50 billion in the same period of 2024, a reflection of the impact of U.S. tariffs on German goods exports.