Germany’s Foreign Surpluses Are Falling, Fulfilling a U.S. Demand

FRANKFURT—After years of digging in its heels, Germany is on track to reduce its giant foreign surpluses, a potential boon for trading partners like the U.S.

For four straight years through 2019, Germany recorded the world’s largest current-account surplus, making it the biggest creditor to other countries and inviting criticism from international officials.