Germany news: Exports jump higher than expected

What you need to know

• German exports have risen 0.5% month on month and 1.9% year on year in March, while imports have jumped 5.1%
• Shipments to the US and China have declined sharply
• Germany's Commerzbank says plans 3,000 job cuts to fend off a takeover bid by UniCredit
• A bank hostage situation is unfolding in a western German town

Here are the latest developments from and about Germany on Friday May 8, 2026:

Commerzbank targets growth, cuts 3,000 jobs to fend off takeover bid

Germany's Commerzbank has been stepping up its defense against a takeover bid by finance giant UniCredit by raising targets and planning 3,000 job cuts.

Commerzbank CEO Bettina Orlopp said the strategy aimed to boost performance and make any acquisition too expensive.

The bank plans to reduce around 3,000 of its 38,000 jobs, partly due to efficiency gains from AI, while investing about €450 million to ensure socially responsible cuts. It has already eliminated 10,000 roles since 2020.

UniCredit, led by Andrea Orcel, has built up a stake of more than a quarter and secured options for a larger holding, intensifying takeover pressure. Germany’s chancellor Friedrich Merz has backed Commerzbank, criticizing what he called aggressive tactics.

Despite weak economic conditions, Commerzbank has raised its long-term targets, aiming for revenues of Commerzbank €16.8 billion by 2030 and a net profit of €5.9 billion. Strong first-quarter results have exceeded analyst expectations, even as the share price slipped in early trading.

German exports edge up despite global tensions, tariffs

German exports have risen slightly despite ongoing global tensions linked to the Iran war, despite a drop in shipments to the United States.

The Federal Statistical Office said exports for March increased 0.5% month on month and 1.9% year on year in adjusted terms.

Imports have jumped more sharply, rising 5.1% from February and 7.2% compared with a year earlier. Germany recorded exports worth €135.8 billion against imports of €121.5 billion, leaving a trade surplus of €14.3 billion, down from €19.6 billion in February.

The US remained Germany's most important export market, though shipments there have dropped significantly. Exports to the US totaled €11.2 billion, down 7.9% from the previous month and 21.4% compared with March 2025. Exports to China also declined by 1.8%. Demand has shifted toward the EU, where exports rose 3.4%, and the UK, up 3.2%.

The Iran war has fueled uncertainty across Germany’s export-driven economy, with higher oil prices increasing transport costs. That has weighed on expectations for a stronger recovery.

The government has cut its growth forecast for the year by half to 0.5%. Trade tensions have also resurfaced, with Donald Trump threatening new tariffs, raising the risk of a renewed EU-US trade dispute.

Germany's exporters had rebounded earlier in the year, with strong gains in February and a recovery in 2025 driven by a robust December. However, the German Chamber of Industry and Commerce now expects exports to stagnate in 2026 instead of growing by 1.0% as previously forecast.

German economy under pressure

To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video

Welcome to our coverage

Guten Tag from the DW newsroom in Bonn.

You join us as there is news that German exports have been better than expected, even as sales to the United States take a dip.

Meanwhile, one of Germany's major banks has said it plans to cut jobs as it fights a takeover by an Italian rival.

Stick with us here for these stories and more of what Germany is talking about today.