Germany’s current account recorded a surplus of €23.6 billion in March 2026. This was €3.1 billion up on the previous month’s level. The goods account surplus decreased, but the surplus in invisible current transactions, which comprise services as well as primary and secondary income, increased more strongly.

The system of indicators gives a comprehensive overview of the situation on the property marktet, which is characterised by a clear rise in prices at a time of low interest rates.

The war in Iran and the blockade of the Strait of Hormuz have shaken global energy markets and evoked memories of 2022, when Russia’s attack on Ukraine significantly exacerbated the energy crisis of 2021/22. In the current issue of the Monthly Report, Bundesbank experts examine both crises and show that while there are parallels there are also significant differences.

The counterfeits being spread at present can be detected by checking the security features. In most cases, counterfeiters focus on just one or only few security features. Therefore, it is advisable to check several features.

In spite of many burdens, the German economy grew more strongly than expected at the beginning of 2026 – partly because industry proved to be quite resilient. However, the labour market continued to deteriorate and the consequences of the war in Iran are clouding the outlook for the German economy in the second quarter.

Information concerning financial sanctions, i. e. concerning restrictions on the free movement of capital and payments.