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Home >> Business
UPDATED: 20:17, May 09, 2007
German trade surplus reaches highest level in 17 years
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Germany's trade surplus in March reached the highest level since German reunification in 1990, official data released Wednesday showed.

Adjusted for seasonal changes, trade surplus reached 15.5 billion euros (21 billion U.S. dollars) in March, the Federal Statistics Office in Wiesbaden said.

But the unadjusted figure stood at 18.4 billion euros (24.9 billion dollars), which the Bundesbank said was the highest level since 1990.

Exports unexpectedly fell 1.4 percent in March compared with the previous month, the office said, revising up the February figure to 1.8 percent

Analysts predicted a modest growth of 0.2 percent in March.

But compared with the same month last year, exports rose 9.3 percent.

Imports dropped 3 percent from February, when they gained a revised 4.1 percent, according to the statistics office.

It cited the strong euro as the main force to drive down exports, the pillar of Germany's economic growth.

The euro, which climbed to an all-time high of 1.3681 U.S. dollars on April 27, made German goods more expensive abroad and eroded international competitiveness, the office said.

Source: Xinhua


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