Germany’s current account surplus expanded to €17.1 billion in January 2026, up from €16.6 billion in the same month a year earlier. The goods surplus rose to €14.9 billion from €13.7 billion, as imports fell by 8.1%, outpacing a 6.0% decline in exports. The services deficit also narrowed, shrinking to €4.6 billion from €5.9 billion. By contrast, the primary income surplus eased to €13.9 billion from €14.4 billion, while the secondary income deficit widened to €7.0 billion from €5.5 billion.