Wednesday 29 March 2017

German exports and imports hit record highs in July

German export power kept the Eurozone from recession
German export power kept the Eurozone from recession

German exports and imports rose to their highest level on record in July, data from the Federal Statistics Office showed on Tuesday.

Seasonally-adjusted exports climbed by 2.4 percent to 103.4 billion euros on the month, while imports increased by 2.2 percent to 80.6 billion euros. Those were the highest values since records began in 1991, the office said.

That widened the trade surplus to 22.8 billion euros.

Economists polled by Reuters had been expecting exports to rise by 0.7 percent and imports to increase by 0.5 percent on the month. They had forecast a trade balance of 22.3 billion euros.

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