Germany’s export engine had another difficult month in November 2025, with fresh data showing a monthly fall in outbound shipments even as imports continued to rise.
The figures, published by the Federal Statistical Office (Destatis), pointed to a narrowing of the trade surplus at a time when Europe’s largest economy is watching its external demand closely.
“In November 2025, German exports fell by 2.5% compared to October 2025, after adjusting for calendar and seasonal effects, while imports rose by 0.8%.”
The same release added that compared to the same month of the previous year, exports decreased by 0.8% and imports increased by 5.4%.
Seasonally adjusted merchandise exports in November 2025 were valued at €128.1bn.
Imports came to €115.1 billion, with Destatis highlighting a trade surplus of €13.1 billion.
"In October 2025, the calendar and seasonally adjusted trade balance had been +€17.2 billion. In November 2024, it had been +€20.0 billion.”
In other words, the surplus has not only decreased month to month but also compared with the same period a year earlier.
Lower EU trade, but more with others
The trade troubles are even reflected when it comes to circulation within the European Union, where Germany is still considered the bloc's top economic powerhouse.
“Compared with October 2025, calendar and seasonally adjusted exports to EU countries decreased by 4.2% and imports from these countries by 4.0%.”
By contrast, trade with countries outside the EU showed a different pattern: “Compared to October 2025, exports to third countries decreased by 0.2%, while imports from these countries increased by 6.3%.”
In short, Germany is currently exporting and importing less to and from the EU than it did in October, while importing more from third countries.
Among individual partners, the United States remained Germany’s largest export market, but the trend was also downbeat, with exports to the US totalling at €10.8 billion, a decrease of 4.2% from the previous month.
“Compared to November 2024, exports to the United States were down 22.9% after adjusting for calendar and seasonal variations.” Exports to China rose on the month, while exports to the UK fell.
The numbers highlight Germany's vulnerability to shifting demand and price pressures as it seeks to pull itself out of an economic slump.
