German trade surplus balloons on booming exports

10th May 2016, Comments 0 comments

Germany's trade surplus ballooned in March, as exports rose, while imports fell, official data showed on Tuesday.

The trade surplus is a key gauge of an economy's comparative strength and in recent months has highlighted the robustness of Europe's biggest economy amid the current global economic uncertainties.

German exports grew by 1.9 percent to 98.2 billion euros ($115 billion) in seasonally-adjusted terms in March, the federal statistics office calculated.

At the same time, imports -- a measure of domestic demand -- decreased by 2.3 percent to 77.6 billion euros.

That meant that the trade surplus -- the balance between exports and imports -- expanded sharply to 23.7 billion euros in March from 20 billion euros in February, the statisticians said.

On a 12-month basis, exports slipped by 0.5 percent in March, while imports declined by 4.3 percent.

In raw or unadjusted terms, the trade surplus grew to 26 billion euros in March, compared with a surplus of 20.2 billion euros in February and a surplus of 23 billion euros in March 2015.

Exports to the European Union expanded by 1.7 percent on a 12-month basis, Destatis calculated.

And exports to the eurozone grew by 1.0 percent while exports to countries outside Europe were down by 3.4 percent year-on-year, Destatis said.

© 2016 AFP

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