January 2026 saw the EU conclude two major trade agreements – with the Mercosur countries and with India – culminating many years of negotiations. These agreements largely eliminate trade barriers and could, over the long run, help diversify the EU’s trade relations. Ratification of the two deals is still pending, however. Writing in the latest Monthly Report, Bundesbank experts illuminate the main features of the trade agreements and explore their potential economic impact.

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.

German banks tightened their credit standards for loans to enterprises in the fourth quarter of 2025 to an extent not seen since 2023. This is revealed by the Bundesbank's most recent round of the Bank Lending Survey. The banks pointed to the renewed rise in credit risk as the reason for this tightening.

On this page you will find frequently asked questions and notices on reports in external sector.

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 €1854 billion at the end of December 2025, their liabilities arising from financial operations and trade credits, exceeded their corresponding assets of €1575 billion by €279 billion. Compared with the previous month, this is a change of − €7 billion.

The statistics on services by mode of supply provide information on how the service was provided. A distinction is made between four categories.