Coastal nutrient loads from point sources such as rivers are mostly well-monitored. This is not the case for diffuse nutrient inputs from coastal catchments unconnected to rivers, despite the potential for high inputs due to intensive land use. The German Baltic Sea coastline consists of numerous peatlands that have been diked and drained. However, some of the dikes have been removed in order to re-establish the hydrological connection to the Baltic Sea, restore local biodiversity, and promote natural CO2 uptake. Since these peatlands were used for agriculture, their rewetting may release accumulated nutrients, leading to nutrient export into the Baltic Sea and intensified coastal eutrophication. Data on these potential nutrient exports are mostly lacking. Therefore, this study investigated nutrient exports from two former agricultural, coastal peatlands: Drammendorfer Wiesen, rewetted in 2019, and Karrendorfer Wiesen, rewetted in 1993. Nutrients (NO3–, NO2–, NH4+, PO43–), nitrous oxide (N2O), particulate organic matter (POM, comprising POC and PON; δ13C-POC), chlorophyll-a, and nitrification rates were analyzed in surface water and porewater sampled weekly to monthly in 2019 and 2020 to compare the effects of different time scales after rewetting on nutrient cycling and potential exports. NH4+, NO2−, and PO43− concentrations were higher in the porewater than in the overlying water at both sites, while nutrient concentrations were generally higher at the recently rewetted Drammendorfer Wiesen than at the Karrendorfer Wiesen. NO3− concentrations in porewater, however, were lower than in the overlying water, indicating NO3− retention within the peat, likely due to denitrification. Nitrification rates and N2O concentrations were generally low, except for a high N2O peak immediately after rewetting. These results suggest that denitrification was the dominant process of N2O production at the study sites. Both peatlands exported nutrients to their adjacent bays of the Baltic Sea; however, N exports were 75% lower in the longer-rewetted peatland. Compared to major Baltic Sea rivers, both sites exported larger area-normalized nutrient loads. Our study highlights the need to monitor the impact of rewetting measures over time to obtain accurate estimates of nutrient exports, better assess negative effects on coastal waters, and to improve peatland management.