German trade surplus rises alongside US tensions

Frankfurt am Main: Germany’s trade surplus ticked upwards in January, official data showed on Friday, as attacks from the Trump White House over the nation’s export strength intensify. Europe’s largest economy exported 18.5 billion euros ($19.6 billion) more than it imported, according to preliminary data adjusted for seasonal and calendar effects from federal statistics office Destatis. Exports increased 2.7 per cent over December’s figure to 103.8 billion euros, while imports added 3.0 per cent to reach 85.3 billion. In a year-on-year comparison, exports added 11.8 per cent to January 2016’s figure, slightly outpacing the 11.7 per cent increase for imports. Expanding surpluses for Germany are unlikely to calm rhetoric from the White House. In 2016, the United States was Germany’s biggest export customer, importing 107 billion euros of goods while selling back just 58 billion. Destatis did not issue country-by-country figures on Friday, but German exports to non-EU countries picked up at 17.7 per cent year-on-year in January, far outpacing intra-EU trade, which added 8.0 per cent. — AFP