There has recently been a further sign of recovery in Europe’s biggest economy – German exports were up more than 3% in June, and the country has experienced unprecendented growth of 2.2% from April to June this year.
A weakening of the Euro in recent months coupled with a strong demand for German goods in Asia has helped to boost exports.
Germany is the world’s second biggest exporter after China – its most popular exports are machine tools, cars and chemicals. Certainly in the automotive industry, Germany is renowned for quality the world over.
Exports to countries outside the eurozone grew by 37% compared with a year ago, the figures showed, while exports to the eurozone were up 22%. €86.5 billion, the highest level since 2008.
German imports also hit a new record high of €72.4 billion, the highest since statistics were first compiled in 1950.
While the euro has made some recovery, it still remains below last year’s levels, making European exports more competitive abroad.
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