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Foreign Trade Up In Germany Despite US Events, Group Says

Published on Nov 14 2017 11:58 AM in Retail tagged: Germany / World Economy / Foreign Trade

Foreign Trade Up In Germany Despite US Events, Group Says

Political machinations in the US have been unable derail the recovery of the global economy, with Germany continuing to perform particularly strongly, according to the Bundesverband Großhandel, Außenhandel, Dienstleistungen (Federal Association of Wholesale, Foreign Trade and Services, BGA).

“Even the verbal disturbances coming from the USA over the past year could not stop the recovery of the world economy,” said Holger Bingmann, president of the German wholesale and trade group.

German foreign trade balance closed the third quarter with a €24.1 billion surplus, according to government figures.

Foreign Trade

German goods worth €110.4 billion were exported during the quarter, an increase of 4.6% year-on-year, while imports rose by 5.5% to €86.3 billion, according to figures from the German federal statistical office.

"The interim balance for German foreign trade is extremely positive after three quarters. In September, German companies achieved a positive result in foreign trade," Bingmann said.

Bingmann added that the new German government should set a decisive course for ensuring that Germany remains economically sound in the future as well.

“This not only includes reliable frameworks for German companies but also meaningful monetary and financial policies,” he said.

© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Kevin Duggan. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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