Germany reports record international trade figures for March

Imports and Exports | | MIC Customs Solutions |

Germany's international trade figures hit a new record high in March 2017.

Germany reported its best ever import and export figures during March 2017, underlining the ongoing strength of Europe's biggest economy.

Data from the country's Federal Statistics Office showed that exports for the month rose by 0.4 per cent to €118.2 billion, while imports jumped up by 2.4 per cent to €92.9 billion. Both figures were the best on record, representing year-on-year increases of 10.8 per cent and 14.7 per cent, respectively.

Having experienced its strongest economic growth performance in six years in 2016, Germany is enjoying robust consumer demand, coupled with healthy overseas sales of German-made goods.

The nation's trade surplus reached a record high in 2016 and now stands at €25.8 billion, which is just below the high watermark seen in March last year. 

Anton Boerner, head of Germany's BGA trade association, said: "German exports had an impressive first quarter. It is astonishing how the German economy is defying global risks, whether politically or economically."

The country's quarterly economic growth data will be released later this week and is now expected to reach 0.6 per cent for the first quarter, up from 0.4 per cent in the fourth quarter of 2016.