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German imports increased by 1.2% in 2016

Thursday, Feb 09 2017
German imports increased by 1.2% in 2016

Germany exported goods to the value of 1,207.5 billion euros and imported goods to the value of 954.6 billion euros in 2016. Based on provisional data, the Federal Statistical Office (Destatis) also reports that German exports increased by 1.2% and imports by 0.6% in 2016 compared with 2015. Exports and imports in 2016 exceeded the previous record highs of 2015, when goods to the value of 1,193.6 billion euros had been exported and goods to the value of 949.2 billion euros had been imported.

 

The foreign trade balance showed a surplus of 252.9 billion euros in 2016, which was the highest value ever recorded. It clearly exceeded the previous peak of 244.3 billion euros achieved in 2015. According to provisional results of the Deutsche Bundesbank, the current account of the balance of payments showed a surplus of 266.0 billion euros in 2016, which takes into account the balances of trade in goods including supplementary trade items (+271.5 billion euros), services (–28.3 billion euros), primary income (+63.2 billion euros) and secondary income (–40.5 billion euros). In 2015, the German current account showed a surplus of 252.6 billion euros. 

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