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German trade grows massively in March - Daily News Egypt

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German trade grows massively in March

Europe’s economic powerhouse has reported its best ever month for imports and exports underscoring healthy foreign demand for German goods and robust consumer spending within the country.German companies exported goods and services worth 118.2 billion euros ($129 billion) in March – a gain of an impressive 10.8 percent compared with the same month a year ago, according to the latest data released by the country’s statistics office, Destatis, on Tuesday.

Imports climbed 14.7 percent over the year, hitting 92.9 billion euros, and also marking the best March figure on record. As a result, Germany’s overall trade surplus grew to 25.8 billion euros in the month, continuing its upward trend that already widened the country’s trade gap to an annual record of 253 billion euros last year.

Demand for Germany’s wares grew most significantly in countries outside the European Union, including China and the United States, which took in products worth 50.3 billion euros, which is an increase of 14 percent.

Germany’s biggest trading partner, however, remained the European Union, with the 28-nation bloc buying a total of 68 billion euros of exports.

uhe/tr (Reuters, dpa, AFP)

Topics: German trade

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