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German Trade Surplus at Record Level

Despite the stronger euro and overall recession, German exporters are seeing their figures climb. According to the Federal Statistics Office, companies sold more goods abroad in July than the same time last year, at a value of €60 billion euros. At €14.1 billion, Germany's trade surplus in the month hit record levels, with exports of goods growing 2.8 percent while imports dropped 2.2 percent in July. Overall, exports rose 5.4 percent compared to the same period last year. Growing demand for German goods in Britain was a significant factor in the increase, with about half of all German exports going to countries within the European Union, but exports to the rest of the world also rose.