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Business

German Exports Booming

German exports were booming in the first nine months of the year and are heading for record levels despite the strong euro, data released Wednesday by the federal statistics office showed. The euro zone's biggest economy posted a trade surplus of €12.1 billion ($15.5 billion) in September, up slightly from a revised figure of €11 billion in August. Analysts polled by the Swiss bank UBS had forecast an average surplus of €11.8 billion. German exports rose 5.8 percent in September to €61.9 billion, while imports rose 13.1 percent to €49.8 billion, the office said. Over the nine months from January to September, exports were up 10.2 percent on the corresponding period last year. According to forecasts from the BGA federation of wholesalers and exporters, the German economy is heading for a record export year of €725 billion, rising to €776 billion next year.