While the rest of Europe contracts, Germany posted impressive export figures in 2012. Due to the high value of the EUR Germany did not avoid a contraction of 0.5% but expectations are that the economy will grow in the next quarter. This will further separate the Teuton economy from the rest of Europe which continues to battle recession even as France narrowly avoided a technical recession.
Germany’s trade surplus has risen to its second highest level in more than 60 years after an unexpected drop in imports in December.
Exports rose over 2012, pointing to the strength of Europe’s largest economy. And in further signs of a global economic recovery, China’s exports and imports surged in January while inflation eased.
German imports declined by 1.3% in December, defying expectations of a rise of 1.4%. But exports inched up 0.3% from November, driving the full-year trade surplus to €188bn (£160bn), the second highest since records began in 1950.
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