German exports surge to EUR 60bn per month

8th April 2005, Comments 0 comments

8 April 2005, WIESBADEN - Germany's massive exports of goods grew in value in February to EUR 59.8 billion, a gain of 6 percent from one year earlier, the Federal Statistics Office in Wiesbaden said on Friday.

8 April 2005

WIESBADEN - Germany's massive exports of goods grew in value in February to EUR 59.8 billion, a gain of 6 percent from one year earlier, the Federal Statistics Office in Wiesbaden said on Friday.

However month on month, the exports were down 2.8 percent in calendar-adjusted terms. As German firms shrugged off a strong euro to score strong foreign sales, especially in the rest of the EU, the January figures were 9.5 percent ahead of those a year earlier.

The Germans export more goods than any other nation on earth, with World Trade Organisation figures showing them ahead of the United States. Roughly two-thirds of the German goods are bought by the other 24 nations of the European Union.

Germany's goods trade surplus for February was EUR 13.5 billion. With domestic consumption weak, the German economy is largely being borne along by export business, with the nation's main export federation, the BGA, forecasting 6 percent growth for the full year.

Other Statistics Office figures on Friday indicated a fall-off in corporate bankruptcies with 2,826 firms seeking protection from creditors in January, the first time the figure has been below 3,000 since November 2003.

The agency also confirmed its earlier provisional March inflation figure of 1.8 percent after receiving retail price data from all states. February's rate had also been 1.8 percent and January's was 1.6 percent.

DPA

Subject: German news

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