German economic growth eased more than expected last year, due to significant slowdown in economic activity in the second half of the year, the latest figures from the Federal Statistical Office showed Tuesday.
The gross domestic product rose 0.7 percent in price-adjusted terms in 2012, much weaker than the 3 percent growth in 2011 and 4.2 percent expansion in 2010.
"In 2012, the German economy proved to be resistant in a difficult economic environment and withstood the European recession," Federal Statistical Office chief Roderich Egeler said in a statement.
In calendar-adjusted terms, GDP rose 0.9 percent compared to 3.1 percent increase in the previous year.
However, despite the difficult external environment, foreign trade proved to be very robust. German exports of goods and services were up by 4.1 percent over a year earlier. Imports grew 2.3 percent. As a result, net trade contributed 1.1 percentage points to overall GDP growth in 2012.
For comments and feedback: editorial@rttnews.com