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Exports crack €1-trillion despite euro crisis

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Photo: DPA
16:15 CET+01:00
Germany's exports cracked the €1-trillion mark in 2012, despite Europe's debt crisis buffeting the Continent's largest economy.

From January to November 2012, Germany exported goods worth just over €1

trillion while imports came to €842.2 billion, official figures showed on Tuesday. While demand for German goods stagnated in much of Europe, exports to the rest of the world surged by 10 percent.

Last year set a record pace: in 2011, it took until December for German exports to top €1 trillion.

The trade surplus in Germany, Europe's biggest economy, rose to €17.0 billion ($22.3 billion) in November compared to €15.7 billion in October, the national statistics office Destatis said.

In seasonally adjusted terms, the figure was €14.6 billion which was below forecasts of €15.1 billion by analysts polled by Dow Jones Newswires.

Germany exported goods worth €94.1 billion in November, falling from €98.4 billion a month earlier. But Destatis noted that exports remained at the same level as a year earlier driven by exports to countries outside the European Union, which rose by 5.6 percent while exports to other areas, notably the euro area, fell sharply.

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Exports to the crisis-hit eurozone dropped by 5.7 percent in November compared to the same month a year earlier. Imports, on the other hand, dropped in November to €77.1 billion from €82.7 billion a month earlier, the office said.

AFP/DPA/The Local/mry

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