German Exports Surge In April
If any economy in Europe will lead an recovery in the region, it is Germany. Not only does the nation have the largest GDP in the region. It also has the most significant trade relationships outside the EU, with some economies which are relatively healthy, particularly China and the US. Germany also has a services economy based on an intellectual property pool which very few countries can match, and one of the most efficient manufacturing sectors.
According to the government:
German exports in April 2013: +8.5% on April 2012
Germany exported commodities to the value of 94.5 billion euros and imported commodities to the value of 76.4 billion euros in April 2013. Based on provisional data, the Federal Statistical Office (Destatis) also reports that German exports increased by 8.5% and imports by 5.2% in April 2013 on April 2012. Upon calendar and seasonal adjustment, exports increased by 1.9% and imports by 2.3% compared with March 2013.
The foreign trade balance showed a surplus of 18.1 billion euros in April 2013. In April 2012, the surplus had amounted to 14.5 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 17.7 billion euros in April 2013.
According to provisional results of the Deutsche Bundesbank, the current account of the balance of payments showed a surplus of 17.6 billion euros in April 2013, which included the balance of services (+1.6 billion euros), factor income net (+1.3 billion euros), current transfers (-2.5 billion euros), and supplementary trade items (-0.9 billion euros). In April 2012, the German current account showed a surplus of 11.9 billion euros.
Filed under: 24/7 Wall St. Wire, International Markets
