Friday started off in the morning session with Germany’s balance of trade. Noticing a decline larger than expected, month-on-month.
In its previous month, December 2025, Germany recorded a level of 17.2b. Forecasts for January were set at 16.5b, in reality we saw an unexpected fall down to 13.1b. The difference from forecast to its actual figures were driven by slow exports out of Germany to other EU countries and the US.
Exports fell by 2.5% to its previous month, which came as a surprise. Imports, in particularly from China, were forecasted to rise with the Chinese New Year coming up and businesses covering inventory over a longer period.
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