The positive balance of the German trade balance reached in June, 14 100 million euros, representing an increase of 14.6% and 44% over May. This favorable result was possible thanks to the progress registered by exports, which totaled 86 500 million (28.5% more), its highest since October 2008, thereby recovering the level before the outbreak of the international financial crisis. For their part, imports also went on a positive behavior. Grew by 31.7% to add 72 400 million, its highest level since records began in 1950, according to the Federal Statistical Office (Destatis).
Thus, in the first six months of Germany’s trade surplus reaches 74 600 million euros, compared with 59 200 million for the same period of 2009, with an export volume of 458.4 thousand million, a 18.2% increase a year ago, while imports reached 383 800 million, a 16.8% increase.
Improving demand
These figures note that in Germany, a locomotive of European growth is occurring not only an improvement in external demand, but there are increasing signs of recovery in domestic consumption.
Because, during the month of June 52.6% of German exports went to EU partners, while imports from the EU accounted for 45.9% of the total. On the other hand, the Chambers of Commerce and Industry of Germany (DIHK by its initials in German) yesterday predicted that exports will grow Germanic “at least” 11% in 2010 and 8% in 2011, allowing the recovery period “valley” experienced during the crisis.
This institution is also considered a strong pickup in imports, which could grow less than 10% this year and next, which would break the existing ceiling of 806 000 million euros recorded in 2008.
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