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German 2014 Trade Surplus At Record High

Germantrade 020915

Germany's trade surplus, exports and imports reached record highs in 2014, provisional data from Destatis revealed Monday.

Exports increased 3.7 percent to EUR 1,133.6 billion in 2014 and imports climbed 2 percent to EUR 916.5 billion. In 2014, export and import levels were higher than the previous all-time highs recorded in 2012.

The foreign trade balance showed a surplus of EUR 217.0 billion in 2014, which was the highest value ever recorded. A year ago, the surplus totaled EUR 195 billion.

At the same time, the current account surplus came in at EUR 215.3 billion in 2014 compared to EUR 189.2 billion in 2013.

In December, exports recovered from November, while imports slid unexpectedly. Exports were up 3.4 percent, reversing a 2.2 percent drop in November. Meanwhile, imports dropped 0.8 percent after rising 1.2 percent a month ago.

Economists had forecast exports to grow 1 percent and imports to rise 0.2 percent in December.

As a result, the trade surplus increased to a seasonally adjusted EUR 21.8 billion from EUR 17.9 billion in the prior month.

On a yearly basis, growth in exports accelerated to 10 percent from 1.6 percent in November. Similarly, imports gained 4 percent following a 1.9 percent rise in the prior month.

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