FX.co ★ German Export Drops 0.8% MoM in July

Germany’s exports fell by 0.8% month-on-month in July 2026 to €138.2 billion, reversing a 0.9% increase in June and disappointing market expectations for no change. Shipments to EU member states declined by 1.6% to €78 billion, driven largely by a 2.8% drop in exports to the euro area, which totaled €53.9 billion. In contrast, exports to non-euro area EU countries rose by 1.1% to €24.1 billion.

Sales to non-EU markets (“third countries”) edged up by 0.2% to €60.2 billion. Robust demand from the United States, where exports surged 19.1%, more than offset sharp declines in shipments to China (-9.5%) and the United Kingdom (-7.2%).

On an annual basis, Germany’s exports increased by 6.1% in July. Over the January–July period, exports were 4% higher than in the same period a year earlier, totaling €954.2 billion.