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Germany’s exports fell 2.5% month-on-month to €128.1 billion in November 2025, their lowest level since October 2024, missing expectations for flat growth. Weak demand from EU trading partners weighed on shipments, with exports down 4.2%, including a 3.9% decline to the euro area and a 4.8% drop to non-euro-area countries. Exports to third countries fell slightly by 0.2%, driven by a 4.2% decline in shipments to the US, Germany’s largest export market, amid the lingering effects of US tariffs. The EU-US trade deal agreed last August imposed a 15% levy on most exports. Meanwhile, exports to the UK dropped 8.1%, while shipments to China rose 3.4%. For the first eleven months of 2025, Germany’s total exports reached €1.44 trillion, up 0.9% from the same period in 2024.