Tue. Apr 23rd, 2019

German exports closed 2018 with a new record and reached 1,318 billion euros

German exports closed 2018 with a new record and reached 1,318 billion euros


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MadridUpdated:

German exports reached a new record last year Despite commercial tensions and close to 1.318 billion euros, 3% more in interannual terms, the Federal Statistical Office (Destatis) reported this Friday according to provisional data.

The imports have also exceeded the historical maximum of the previous year and they have increased by 5.7% to 1,090 billion euros. As a result, the German trade surplus has been reduced compared to the previous year, to 227.8 million euros, a relevant drop because Berlin had been criticized repeatedly from Brussels and Washington for imbalances in their trade balance.

The analysis of the destination of German exports and the origin of their imports reveals that Germany is tightening its commercial ties with its European partners, especially with the countries with which you share the euro.

Exports to the EU countries have risen by 3.8% and those destined for the eurozone by 4.5%, while those that went to third countries have increased by 1.9%, clearly below the average increase.

The imports from EU countries have rebounded by 6.3% and those of the eurozone by 6.9%, while those from third countries advanced by 5% in year-on-year terms. December has recorded exports of 96,000 million, 1.5% more than the previous month, and imports of 82,100 million, 1.2% more than the previous month.

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