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Record exports

February 8, 2012

German exports reached a record high in 2011, climbing a staggering 11.4 percent year-on-year. For the first time ever, exports topped the one trillion euro mark, while domestic demand also pointed upward.

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Image: picture alliance/dpa

German exports climbed 11.4 percent in 2011 and cleared the one trillion euro ($1.3 trillion) threshold for the first time in the country's history, the Federal Statistics Office reported on Wednesday.

Europe's biggest economy last year exported goods and services worth 1.06 trillion euros, up from 952 million euros in 2010.

Despite setting a new record, Germany only remained the world's second-largest exporter behind China, which posted 2011 exports totaling 1.432 trillion euros.

Domestic demand pointing upward

Exports continue to be a mainstay of Germany's economic strength, despite a slight dent in December of last year. But they have been supplemented in recent years by higher domestic demand.

2011 imports were up 13.2 percent, also hitting a new record high. Imports rose to 902 billion euros last year, up from 797.1 billion euros in 2010.

The Statistics Office announced that Germany's trade surplus reached 158 billion euros in 2011.

The bulk of German exports once again went to fellow European Union member countries. Goods worth 627.3 billion euros went there last year – 9.9 percent more year-on-year.

Author: Hardy Graupner (AP, AFP, dpa)
Editor: Gregg Benzow