The international importance of a currency is reflected not only in its use as a reserve or anchor currency, but also in its role as an invoicing currency in trade across national borders. In the current issue of the Monthly Report, our experts examine the euro’s international role as an invoicing currency and its potential. 

Since January 2022
President of the Deutsche Bundesbank
Member of the Governing Council of the ECB

The statistics on services trade by enterprise characteristics enable a sound assessment of enterprises involved in international trade in services. They provide a valuable foundation for economic policy decisions and analyses.

German economic output is likely to have stagnated in the third quarter of 2026, the Bundesbank writes in its current Monthly Report. The economists attribute this interruption of the upward trend to temporary stress factors, however. These include the low water levels on the Rhine, the loss of competitiveness in the context of the Iran war and one-off effects related to the fuel rebate. In addition, high energy prices weighed on households’ purchasing power. The inflation rate rose significantly in September to its highest level since the end of 2023. The economists expect inflation to remain elevated for the time being.

Germany’s current account recorded a surplus of €10.3 billion in August 2026, down €11.5 billion on the previous month’s level. This was mainly attributable to a smaller goods account surplus. 

The German economy has not slowed despite the war in the Middle East, Bundesbank President Joachim Nagel said at a joint press conference with Federal Finance Minister Lars Klingbeil as part of the meeting of G20 finance ministers and central bank governors in Asheville. Germany’s gross domestic product grew perceptibly in the first half of 2026, he noted. The global economy, too, remains robust despite repeated flare-ups of the conflict in the Persian Gulf.

On this page you will find relevant code lists on reports in external sector.

Information on the options for obtaining the stamping quality “Stamp Shine”.

Germany’s current account recorded a surplus of €21.2 billion in July 2026. The result was €2.3 billion up on the level of the previous month. This was mainly due to a larger goods account surplus. By contrast, there was a decrease in the surplus in invisible current transactions, which comprise services as well as primary and secondary income.