Current Account Balance in Germany

Germany's current account balance records the country's transactions with the rest of the world in goods, services, primary income (labour and capital) and secondary income (current transfers). It is published monthly by the Deutsche Bundesbank.

It is the sum of the goods, services, primary income and secondary income balances. A positive figure means a current account surplus and a negative one a deficit; the balance equals Germany's net lending to or borrowing from the rest of the world. It is reported in billions of euros.

Germany runs a structural surplus on the back of its powerful export sector, so markets watch the size of that surplus as a gauge of external competitiveness. A sustained deterioration can signal weaker global demand or lost competitiveness, with implications for the euro and ECB policy.

The figures are released with a lag of almost two months and are subject to revision as fuller data comes in. The headline balance does not reveal which sub-account is driving the move, nor does it separate trade flows from investment income.