FX.co ★ German Imports Exceed Expectations

Germany’s imports rose 4.2% month-on-month in September to EUR 125.5 billion, the highest level in nearly four years. The increase far exceeded market expectations of a 0.5% gain and followed a downwardly revised 0.6% rise in August. It was the strongest monthly growth since January 2025.

Imports from EU member states increased by 4.9%, supported by a 3.8% rise in imports from euro area countries and a 7% surge in imports from EU countries outside the eurozone. Imports from non-EU countries (“third countries”) were up 3.6%, driven primarily by a 6.2% increase in imports from the United States. Imports from China and the United Kingdom also grew, by 1.6% and 1%, respectively.

On an annual basis, imports expanded 8.7% in September, accelerating from an upwardly revised 6.4% increase in August. Over the first nine months of 2026, total imports reached EUR 1,082.6 billion, an increase of 4.8% compared with the same period a year earlier.