Friday, February 10, 2017

Germany posted a record trade surplus in 2016, just weeks after Donald Trump's top trade adviser accused the country of exploiting a "grossly undervalued" euro.
The country's €253bn (£215bn) trade surplus was the result of a 1.2pc rise in exports to €1.2 trillion, while imports only rose 0.6pc to €954.6bn, according to the federal statistics office. The 2016 surplus surpasses the previous high of €244.3bn set in 2015.   "This increase in net exports is a very encouraging sign for Germany," said Benno Bunse, head of Germany's economic development agency. "The overall picture is of an economy developing healthily towards being a place of manufacture and robust consumer-led development."  Germany's 2016 current account surplus, which measures the total money flowing in and out of a country, of €266bn, surpassed China's last year, making it the world's largest.

1 comment:

Mircea Halaciuga said...

Project Fear has proved to be a Gallic hostage to fortune. Those malevolent predictions of instant Brexit trauma have played into the hands of Marine Le Pen's Front National.

One quarter of economic data has succeeded another, and then another, and the British economy is still growing faster than the eurozone and faster than France, where the broad (DARES) unemployment toll rose to 4.53m in December.

French economist Jacques Sapir says France has lost 660,000 jobs under the tenure of President Fran├žois Hollande, a leader who told the nation that his record should be judged by the employment curve.