FX.co ★ German Exports Unexpectedly Rise in May

Germany’s exports rose unexpectedly by 0.9% month-on-month in May 2026 to €137.9 billion, the highest level in more than three and a half years. This marked an acceleration from April’s downwardly revised 0.8% increase and contrasted with market expectations of a 0.3% decline.

Exports to non-EU countries grew by 3.6%, driven in particular by a 23.1% jump in shipments to the United States, Germany’s largest export market. Exports to China also advanced, rising 7.1%, while deliveries to the United Kingdom inched up 0.4%.

In contrast, exports to EU member states declined by 1.1%. Within this, shipments to the euro area were down 0.5%, and exports to EU countries outside the euro area fell by 2.4%.

Over the first five months of 2026, Germany’s total exports increased by 3.0% year-on-year to €676.2 billion.