Germany posts trade surplus of 14.1 billion euros: data

9th August 2010, Comments 0 comments

Germany posted a rising trade surplus of 14.1 billion euros in June, official but provisional data released on Monday showed, as exports reached nearly pre-crisis levels.

That was a leap of 44 percent from the level in May, and in line with an average analyst forecast compiled by Dow Jones Newswires.

Exports climbed to 86.5 billion euros (115 billion dollars), their highest level since October 2008, the Destatis statistics office said.

Imports hit a new record of 72.4 billion euros meanwhile, their highest level since statistics were first compiled in 1950, it added.

For the first half of 2010, the trade surplus recorded by Europe's biggest economy gained 26 percent from the same period a year earlier to 74.6 billion euros.

The first six months of 2009 were marked by the country's worst post-war recession, however.

Since then, goods shipped abroad by the world's second biggest exporter after China have picked up markedly, in particular to Asia which has ordered impressive amounts of German machine tools, automobiles and chemicals.

Germany's current account of the balance of payments, a broad measure of trade with other countries, surged in June to 12.9 billion euros, from 1.8 billion the previous month, provisional figures released by the central bank showed.

© 2010 AFP

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