German trade surplus narrows in 2017 | The Daily Star
12:00 AM, February 09, 2018 / LAST MODIFIED: 12:00 AM, February 09, 2018

German trade surplus narrows in 2017

Germany's oft-criticised massive trade surplus narrowed in 2017, official data showed Thursday, as imports outpaced exports in Europe's booming top economy.

The trade surplus fell to 245 billion euros ($300 billion) last year from a record 249 billion in 2016, provisional figures from the federal statistics authority Destatis showed.

Imports climbed by 8.3 percent to an all-time high of 1.03 trillion euros, while exports rose at a slightly slower clip of 6.3 percent to 1.3 trillion -- also a fresh record.

The soaring demand for goods from abroad may go some way to appeasing critics who have long urged Germany to do more to share the proceeds of its wealth.

German demand was strongest for goods made inside the European Union, with imports from non-eurozone countries shooting up 9.5 percent.

Stay updated on the go with The Daily Star News App. Click here to download it for your device.

Grameenphone and Robi:
Type START <space> BR and send SMS it to 2222

Banglalink:
Type START <space> BR and send SMS it to 2225

Leave your comments

Top News

Top News

Top