International trade in services refers to the exchange of intangible services such as financial services, tourism or IT between countries. Unlike in goods trade, no physical goods are exchanged. Globalisation, technological developments and the opening-up of markets have greatly increased its importance.

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. 

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 enterprises constitute net debtors vis-à-vis non-residents: Standing at €1865 billion at the end of June 2026, their liabilities arising from financial operations and trade credits, exceeded their corresponding assets of €1594 billion by €271 billion. Compared with the previous month, this is a change of - €29 billion.

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.

German banks tightened their credit standards for loans to enterprises, for housing loans to households as well as for consumer credit and other loans to households in the second quarter 2026.

The statistics on the money markets is on money market transactions, namely on secured, unsecured and certain derivatives money market transactions, concluded by monetary financial institutions (MFIs), with the exception of money market funds.