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Germany’s current account surplus narrowed to €15.1 billion in November 2025, down from €18.8 billion a year earlier. The goods surplus shrank to €12.7 billion from €19.2 billion, driven by a 3.4% decline in exports and a 2.7% rise in imports, while the secondary income deficit widened to €7.7 billion from €7.3 billion. In contrast, the primary income surplus edged up to €14.8 billion from €14.5 billion, and the services deficit fell to €4.7 billion from €7.6 billion. Over the first eleven months of 2025, Germany’s current account surplus fell to €182.1 billion from €235.3 billion during the same period in 2024.