Figures show 2014 was record year for exports

Figures show 2014 was record year for exports
Photo: DPA
Trade with the United Kingdom and other EU partners played a big role in Germany's record exports, which totalled €1.134 trillion in 2014, the Federal Statistics Agency (Destatis) said on Monday.

Germany, Europe's biggest economy, clocked up a record volume of exports and attained its largest ever trade surplus in 2014, data compiled by Destatis showed on Monday.

Germany exported a record €1.134 trillion worth of goods last year and imported goods worth €916.5 billion.

That pushed the trade surplus – the balance between imports and exports – to an annual total of €217 billion, Destatis calculated in a statement. 

"The exorts and imports exceeded the previous record high set in 2012," said a statistician. 

Trade with eurozone partners Great Britain and Poland were key to the record numbers. Destatis reported that 10.2 percent of all trade with the EU went to those two countries.

In December alone, Germany exported goods worth a total of €98.7 billion in seasonally adjusted terms, an increase of 3.4 percent from November, Destatis said.

Imports, on the other hand, fell by 0.8 percent to 76.9 billion euros.

That meant the seasonally adjusted trade surplus expanded to €21.8 billion in December from €17.9 billion in November.

Economics think tank Ifo had said last week that it predicted the German current account surplus would be €220 billion, which was just €3 billion off the mark, but still leaves the European leader with the biggest surplus globally


Member comments

Become a Member to leave a comment.Or login here.