Germany set a record in export, import and surplus


In 2016, Germany sold abroad goods for €1,207 trillion, which was a new historic record, according to the Federal statistical office of Germany.

Import to Germany have also set the historical record: in-country imported from abroad of goods €billion 954,6

Despite the growth of imports, foreign trade balance not only remained positive, but also reached record levels, amounting to €252,9 billion By the end of 2015, the positive balance of foreign trade turnover amounted to €244 billion.

Most of German exports go to other EU countries, the report said. Of the total exports of €707,9 billion occurred in the EU countries, imports from these countries amounted to €632,5 billion compared to 2015 year, exports to EU countries increased by 2.2%, while imports increased by 1.8%.

According to analysts, which results in the publication Süddeutsche Zeitung, a significant excess of exports over imports is fraught with two dangers. First, it indicates a weak domestic demand. And secondly, many countries pay German companies with a delay, the newspaper said. In the current tough economic situation there is a risk that some of these payments will either be expired, or even frozen.

In late January, Advisor to Donald trump, head of the National trade Council American President Peter Navarro said that Germany uses the Euro undervalued, in order to get trade advantages over the United States and the countries of the European Union. He noted that the policy of Germany prevents the adoption of an agreement between the US and the EU on free trade.

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Read more at : In response, German Chancellor Angela Merkel said that the country has no levers of influence on the European Central Bank, whose competence includes the issues of foreign currency exchange rates. The ECB maintains the policy of zero rates in the Eurozone, whereas in the US the key rate twice already increased this differential increases the attractiveness of dollar-denominated investments relative to the Euro. Berlin has always supported the independent ECB and will not influence the policy of the regulator, said the Chancellor. “I have neither the desire nor the ability to change,” — said Merkel.

The Ministry of economy of Germany also rejected accusations from abroad. The government has few instruments of influence on the global forces that determine the exchange rate of the Euro, said the representative of the office of Tanya Alemany. “The German government cannot influence expectations related to the interest rate, and the impact that they have on the exchange rate”, — said Alemany.

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