Germany sees foreign trade spike
Exports outside the EU lead the way
Mar 14, 2017
Berlin (GTAI) - Germany’s federal statistics office Destatis has reported a sharp increase in year-on-year foreign trade for January 2017. January’s exports, relative to January 2016, were 11.8% up, while imports rose at almost the same rate, 11.7%. After calendar and seasonal adjustments were factored in, exports in January 2017 rose 2.7% on the previous month, while imports rose 3%. January’s foreign trade balance for January 2017 also showed a €14.8bn surplus.
Interestingly, the sharpest increase in exports was to countries outside the EU. Year-on-year there was a 17.7% increase in exports to non-EU countries; a c. €10bn rise in value. The news comes on the back of last month’s report that factory orders in Germany had increased to an 18-month high in December and further underlines Germany’s position as a stable and attractive production and supply location in a challenging economic climate.
“In February this year, Germany Trade & Invest (GTAI) reported record numbers of foreign direct investment projects for 2016, with the largest number of FDI jobs created in production,” said Dr. Benno Bunse, CEO of GTAI. “These statistics are the continuation of a trend which clearly points to Germany’s position as a preferred location for investment in production facilities, as well as to a reinforcement of the loyalty being shown to the ‘Made in Germany’ label. That we are now seeing such volumes heading outside of the EU as well as across the borders within it is a further embellishment of Germany’s global reputation.”