German trade surplus widens as weak euro bolsters exports
Import rose 2.2%, export +2,4%
08 September, 10:31
(ANSA-AP) - BERLIN - German exports soared in July, outpacing an import rise to widen the country's trade surplus as a weaker euro helped bolster trade outside the Eurozone.
The Federal Statistical Office said Tuesday 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.
The unadjusted surplus hit 25 billion euros, a new record.
German exports inside the European Union rose 6 percent over July 2014, but only 5.5 percent to the countries using the euro currency. Exports 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 has become Germany's single most important trading partner in the first half. (ANSA-AP).
