German trade surplus hits record as weak euro helps exports
Sep. 08, 2015
BERLIN (AP) — Germany's trade surplus hit a record high in July, as a weaker euro helped bolster exports to countries outside the eurozone, particularly the U.S.
The Federal Statistical Office said Tuesday that exports rose 2.4 percent to 103.4 billion euros ($115.25 billion), adjusted for calendar and seasonal variations. Imports rose 2.2 percent to 80.6 billion euros for a 22.8 billion euro surplus.
That put the trade surplus at 25 billion euros, a record high.
German exports rose by an annual 6 percent to countries inside the European Union, and 5.5 percent to the countries using the euro currency. Exports to markets outside the EU surged 6.4 percent.
ING economist Carsten Brzeski says a weak euro has helped boost exports, especially to the U.S., which became Germany's single most important trading partner in the first half.