Growing Export Lifts the Trade Surplus of Germany to New Highs
With exports widening greatly in the month of May, the trade surplus of Germany hit a new record high. The exports from the euro nation surpassed its imports according to the federal statistics office Destatis.
On Thursday, the Federal Statistical Office said that the seasonally adjusted exports in the largest economy of Europe increased 1.7 percent in May as compared to April, to 102.1 billion euros which is almost equivalent to$112.56 billion. The imports were also on the rise and increased 0.4 percent to 79.3 billion euros with a trade surplus of 22.8 billion euros.
According to Destatis, in May, Germany exported goods worth 102.1 billion euros in seasonally-adjusted basis. The figures were 1.7 percent higher as compared to the preceding month.
When compared to the European Union in all, the unadjusted exports of Germany increased 6.2 percent from May last year.
According to Nasdaq the growth in exports for Germany, which is more than its imports, is signaling towards greater demand of goods from the foreign countries. ThatÂ Â factor itself is supporting the economic growth of the biggest economy of Europe in a big way.