German exports rebound in early 2012 | Business| Economy and finance news from a German perspective | DW | 09.03.2012
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German exports rebound in early 2012

Germany's export-driven economy in January posted a marked increase in goods and commodities sold abroad. The surge came after disappointing end-of-2011 data which showed a distinct slump in exports.

German exports rebounded in January as a result of a rise in global trade, the Wiesbaden-based Federal Statistics Office reported on Friday.

The volume of goods delivered abroad by the world's second-largest exporter after China rose 2.3 percent month-on-month after taking a 4.4-percent dive in December of last year.

On a year-on-year basis, the January rise appears even more distinct, with a 9.3 percent increase compared to January 2011 levels. Exports in the first month of this year totaled 85.9 billion euros ($113.6 billion).

Underlining the economic acceleration in Germany, nationwide imports gained 2.4 percent month-on-month after falling 3.9 percent in December. Year-on-year imports soared by 6.3 percent, not enough, though, to reach a balanced trade sheet.

Balancing act

The country's trade balance surplus widened to 13.1 billion euros in January (seasonally adjusted: 14.2 billion euros), up from 12.9 billion euros in December of 2011.

Despite a raging debt crisis, recession in parts of the euro area and tough budget austerity packages adopted by governments across the continent, Germany was able to expand its exports even to the debt-stricken members of the eurozone, logging a 4.4-percent increase year-on-year.

Demand for German goods from outside the European Union was strongest, with year-on-year exports up 15.4 percent.

hg/gb (dapd, dpa)