German imports and exports hit record levels | Business| Economy and finance news from a German perspective | DW | 09.05.2011
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German imports and exports hit record levels

German exports soared to a record-high in March, extending a second consecutive month of gains and boosting growth in Europe's largest economy.

Container shipping yard

Germany's export machine is in high gear

The value of German exports, adjusted for work days and seasonal changes, jumped 7.3 percent to 98.2 billion euros ($141.1 billion) in March - their highest level since the Federal Statistical Office began tracking such data in 1950.

Germany is the world's second biggest exporter after China. It also received a record amount of imports in March, worth 79.4 million euros, for a monthly increase of 3.1 percent.

Mercedes assembly line

The car industry accounts for a large portion of Germany's export trade

Compared with a year earlier, exports gained 15.8 percent, while imports advanced 16.9 percent.

Record trade

The record trade signals continued growth in the German economy, which has expanded as much as 1 percent in the first three months of the year, the government agency reported, citing data provided by the Bundesbank.

The nation's current account surplus, a measure of all trade including services, widened to 18.8 billion euros in March from 11.9 billion in February.

This year German government expects economic growth of 2.6 percent following a record expansion of 3.6 percent in 2010.

Author: John Blau (AFP, Reuters)
Editor: Sam Edmonds

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