Germany non-monetary gold exports
Germany non-monetary gold exports stood at 2,125.52 EUR million in Aug 2026, according to Deutsche Bundesbank. It is one of the indicators in the Balance of payments: current account table (Value · Monthly), with a complete series running from Jan 1971 to Aug 2026. The complete series with an interactive chart, free to download.
This indicator in the Balance of payments: current account table
| Indicator | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Receipts | 106,238.06 | 125,425.47 | 130,803.24 | 113,363.84 | 122,213 | 130,187.65 | 117,198.13 | 105,561.59 | 101,869.06 | 112,196.34 | |
| Non-monetary gold, Exports | 2,125.52 | 3,229.69 | 5,881.85 | 1,985.13 | 3,969.09 | 4,251.71 | 4,738.75 | 3,260.43 | 1,842.69 | 1,825.01 | |
| General merchandise on a balance of payments basis, Exports | 103,029.14 | 119,399.1 | 123,415.7 | 108,789.7 | 114,916.53 | 125,464.69 | 110,553.78 | 102,035.95 | 97,350.33 | 108,725.13 |
Understanding germany non-monetary gold exports
Cross-border shipments of physical gold leaving the reporting economy are recorded here, provided the metal is not held as a reserve asset by the central bank. This outflow captures gold intended for industrial use, jewelry manufacturing, and private investment hoarding. It stands apart from general merchandise exports by separating precious metal movements, which are often driven by financial safe-haven motives rather than standard industrial demand. Any gold held or traded between monetary authorities is excluded entirely from the goods account.
Because precious metals often serve as alternative financial assets, monthly fluctuations in this outflow frequently correlate with shifts in global risk sentiment rather than the domestic business cycle. Assessing short-term changes can be challenging due to the outsized impact of a few large institutional shipments. Revisions occur when customs declarations are updated with final assay values or delayed settlement pricing. When comparing this against broader export aggregates, users must adjust for the fact that physical metal flows can distort the underlying trajectory of standard manufactured goods.
Frequently asked questions
- Are central bank gold reserves captured in these export figures?
- No, transactions involving monetary authorities are classified separately under reserve assets and excluded from this category.
- Does this include paper gold or gold derivatives?
- It strictly covers physical bullion, coins, and unallocated accounts that require physical delivery, excluding purely financial derivatives.
- Is gold jewelry exported by wholesalers included?
- The series focuses on bullion and unworked gold; items fully manufactured into consumer jewelry fall under general merchandise.