Germany’s trade surplus in foreign trade at a record level

The latest trade figures from Germany’s Federal Statistical Office (Destatis) show that Germany’s trade surplus grew to the record level of EUR 196.5 billion in 2007.

 

German exports are worth total 25.4% more than German imports.

 

The highest surpluses occurred in foreign trade with France (EUR 28.9 billion), the United States (EUR 27.7 billion), the UK (EUR 27.6 billion) and Spain (EUR 27.0 billion). Germany has high deficits in foreign trade with China (EUR -24.7 billion), Ireland (EUR -11.5 billion), Japan (EUR -11.0 billion) and Norway (EUR -10.1 billion).

 

Germany’s export industry is doing well despite the weak USD and the financial crisis which can be explained with the large share of exports to neighboring countries whose currency also is the Euro.

 

http://www.destatis.de/jetspeed/portal/cms/Sites/destatis/Internet/EN/press/pr/2008/04/PE08__150__51,templateId=renderPrint.psml

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