FX.co ★ German Exports Drop More than Expected

In April 2025, German exports saw a decline of 1.7% compared to the previous month, reaching a three-month low of EUR 131.1 billion. This decrease reverse the upwardly revised growth of 1.2% observed in March, and it was worse than the anticipated market prediction of a 0.5% decline. The primary contributors to this downturn were reduced sales to the United States, China, and the United Kingdom. Specifically, exports to countries outside of the European Union, excluding these key markets, dropped by 4.8%, with a significant 10.5% decrease in shipments to the United States, largely due to tariffs introduced during the Trump administration. Shipments to China and the UK fell by 5.9% and 2.1%, respectively. Conversely, exports to the European Union experienced a 0.9% increase, with exports to the Eurozone rising by 0.5% and those to EU countries outside the Eurozone expanding by 1.8%.