Tags: EU | Germany | Economy

German Exports up 6.3 Percent in 2017, Hit Record

Thursday, 08 February 2018 03:38 AM

BERLIN (AP) — Germany's exports increased by 6.3 percent in 2017, beating the previous year's record, authorities said Thursday. Imports rose by an even stronger 8.3 percent, also hitting record levels.

Europe's biggest economy exported goods worth 1.279 trillion euros ($1.577 trillion) last year, the Federal Statistical Office said. It didn't give a detailed geographical breakdown of the destinations, but said that exports to both European Union countries and nations outside the 28-nation bloc were up 6.3 percent. Exports to the EU, at 750 billion euros, accounted for well over half the total.

Germany's imports swelled to 1.035 trillion euros, with goods from outside the EU gaining a little more strongly. EU imports totaled 682.5 billion euros.

Exports have long been a mainstay of the German economy, though strong domestic demand has taken over as the main driver of economic growth. Germany's export strength has brought the country criticism from abroad.

Germany's trade surplus last year came in at 244.9 billion euros, down from the previous year's record of 248.9 billion euros, the statistical office said.

In December, exports edged up 0.3 percent compared with the previous month in seasonally and calendar-adjusted terms, while imports were up 1.4 percent.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
GlobalTalk
Germany's exports increased by 6.3 percent in 2017, beating the previous year's record, authorities said Thursday. Imports rose by an even stronger 8.3 percent, also hitting record levels.Europe's biggest economy exported goods worth 1.279 trillion euros ($1.577 trillion)...
EU,Germany,Economy
198
2018-38-08
Thursday, 08 February 2018 03:38 AM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved