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Joint European responses to the challenges we face Speech at the European Banking Congress
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German balance of payments in May 2025
Germany’s current account recorded a surplus of €9.6 billion in May 2025, virtually half the level seen in the preceding month. This was mainly attributable to the swing to a deficit in invisible current transactions, which comprise services as well as primary and secondary income. There was also a somewhat smaller surplus in goods trading.
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Coding list for the balance of payments (Annex LV to the Foreign Trade and Payments Regulation) Last updated: 01/2026 (editorial changes)
57 KB, XLSX
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List of codes showing incoming and outgoing payments Last updated: 01/2026 (editorial changes)
66 KB, XLSX
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Bundesbank Online Panel – Firms: Overview on Questions
2 MB, PDF
Scientific study on the expectations of firms in Germany
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German balance of payments in April 2025
In April 2025, Germany’s current account recorded a surplus of €23.5 billion, down €9.4 billion on the previous month’s level. This was attributable to smaller surpluses in the goods account and especially in invisible current transactions, which comprise services as well as primary and secondary income.
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Current and future monetary policy challenges facing the Eurosystem 20th Walter Eucken lecture