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May 9, 2021

German exports rise to all-time high

German exports surged in March to their highest level since records began, as the growing global economy lifted demand for its products and services, according to bbc.co.uk The country’s exports for the month totaled EUR 98.3bln 7.3% higher than February. Its imports also reached an all-time high, up 3.1% to 79.4bn euros. Both imports and exports are the most since data started to be collected in 1950.Germany is the world’s second-largest exporter. Only China exports more than the European nation, and the latest monthly figure for German exports was much higher than market expectations.”Germany is on the verge of a ‘golden decade’,” said Christian Schulz of Berenberg Bank. Fellow analyst, Carsten Brzeski at ING, said the German economy was now “cruising along smoothly”. The latest German export figures provide yet more evidence of a “two speed” eurozone, with the German and French economies continuing to grow strongly, while others, such as Greece and Portugal are struggling against a backdrop of high national debt levels.

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