Germany's foreign trade rush shows no sign of slowdown
'Made in Germany' very much in demand Berlin
May 10, 2017
Berlin (GTAI) - Germany's import and export figures both hit record highs in March 2017, according to federal statistical office Destatis. Exports for the month were recorded at €118.2bn and imports at €92.9bn, rises on 10.8% and 14.7% respectively, year on year. This created a foreign trade surplus for the month of €25.3bn, slightly less than the surplus recorded for March 2016.
Significantly, the imports are rising faster in percentage terms than the exports despite a weaker Euro, while the strength of the demand for German products during a period of significant global political instability reflects very well on the trust placed in the manufacturers in Europe's largest economy.
"The German strategy of ensuring a balanced budget, supporting and funding innovation, and promoting value-adding investment has created a situation where German products are - deservedly - regarded as innovative, reliable and of high quality throughout the world," said Dr. Benno Bunse, CEO of Germany Trade & Invest, Germany's federal economic development agency. "The export figures in particular are a reflection of how many companies choose to take advantage of the good investment climate here and produce their products using German facilities and workers, specifically for export with the 'Made in Germany' stamp of quality. With pioneering roles in several industries - not least in energy and digitalisation - Germany remains a place to produce and to innovate."