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Exports crack €1-trillion despite euro crisis
Photo: DPA

Exports crack €1-trillion despite euro crisis

Published: 08 Jan 2013 16:15 GMT+01:00
Updated: 08 Jan 2013 16:15 GMT+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.

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

The Local (news@thelocal.de)

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Your comments about this article

17:03 January 8, 2013 by smart2012
no surprise about export in booming areas ie Asia (again, product is/will be made there, not in Europe).

Stunning though the last hidden and small sentence: "Imports, on the other hand, dropped in November to €77.1 billion from €82.7 billion a month earlier, the office said". Lower internal demand means lower money in the pockets of people (of course Kurtzarbeit, 400 Euro jobs, temp agency and people getting fired are not helping factors)
16:31 January 9, 2013 by murka
"Exports crack €1-trillion despite euro crisis" - and again, not despite, but because of crisis and undervalued euro. Money from Greece and other EU importers, easy-picked by Germany on the external market.
19:08 January 9, 2013 by burito
Good job!I wish the rest of EU,be capable of that.
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