Germany real effective exchange rate and price competitiveness (quarterly)
Bundesbank indicators of Germany's price competitiveness against euro-area countries, 28 industrial countries, 37 and 60 trading partners (1999 Q1=100), based on consumer prices or on deflators.
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | Q3-2023 | Q2-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Euro area countries | 93.3 | 93.5 | 93.4 | 93.2 | 93.1 | 92.9 | 92.5 | 92.4 | 92.4 | 92.4 | 92.5 | 92.1 | 92.1 | |
| 28 selected industrial countries | 95.6 | 95.6 | 95.8 | 95.7 | 94.8 | 93.5 | 93.5 | 94 | 94 | 94 | 94.2 | 93.8 | 93.8 | |
| 28 selected industrial countries excluding the euro area countries | 99 | 98.8 | 99.3 | 99.4 | 97.4 | 94 | 94.7 | 96.4 | 96.3 | 96.2 | 96.5 | 96.2 | 96.3 | |
| 37 trading partners | 89.5 | 89.9 | 90.2 | 90.3 | 89.5 | 87.6 | 87.5 | 88 | 87.9 | 87.9 | 88 | 87.9 | 87.2 |
Latest reading
Euro area countries stood at 93.3 in Q2 2026. That is −0.2% from Q1 2026 and +0.2% from a year earlier. The series on this page is quarterly and runs from Q1 1961 to Q2 2026. Source: Deutsche Bundesbank.
- Latest
- 93.3
- Q2 2026
- vs previous period
- −0.2%
- Q1 2026
- vs a year earlier
- +0.2%
About this data
Bundesbank indicators of Germany's price competitiveness against euro-area countries, 28 industrial countries, 37 and 60 trading partners (1999 Q1=100), based on consumer prices or on deflators. A rise means a loss of competitiveness. Unlike the euro's effective exchange rate, these also capture price differences inside the euro area.
