Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  March 11, 2013 10:26:29

Germany - exports grew in January, well above market expectations, the overall balance surplus increased again


German exports according to the local statistical office grew in January, seasonally adjusted decreased by 1.4% compared to the December +0.2% compared with forecasts and market set to grow on average by 0.5%.

Imports grew in January by 3.3% mom.

The total German foreign trade balance in January was a surplus of 13.7 mld.EUR compared to 12.1 billion in December.

The surplus of the current account deficit fell to 11.3 mld.EUR, almost half compared to December's 20.2 mld.EUR.

Data on the development of German foreign trade indicate that the euro zone's biggest economy could in the beginning of this year to pick up the pace towards the resumption of growth following a decline in Q4 of last year.

According to estimates, the ECB, the German economy this year will grow by 0.4% compared to a decline of the economy the euro area by 0.5% and 1% growth next year.
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