Record High For German Exports - Yamato Global

Germany, October 16, 2014 (Newswire.com) - yamatoglobal.com: Germany has shown that its export sector remains in rude health after posting a record trade surplus for July.

According to the federal statistics office, Destatis, the country’s exports topped €101 billion in July and increase of 8.5% on the same month last year.
“Despite the poor economic situation in Europe, demand for the goods Germany produces remains buoyant around the world,” said an Yamato Global researcher. 

Yamato Global: Europe's largest economy set a new record for its exports in July after it shipped goods worth €101 billion.

Jason, Gecco

Imports shrank by 1.8% to €76.1 billion creating a trade surplus – the difference in the value of imports against exports – of €22.2 billion.

Germany’s economy shrank by 0.2% in the 2nd quarter as industrial output and consumer spending slumped against a backdrop of wider euro zone disinflation and the weight of geopolitical tensions between Ukraine and Russia. 

yamatoglobal.com says it expects recent better-than-expected data in industrial output for the current quarter augured well for the country avoiding entering a technical recession, a condition defined by two consecutive quarters of economic contraction.

Products from Germany’s auto, industrial, pharmaceutical and technology manufacturers continue to enjoy solid support around the world despite their tendency to be more expensive than goods from cheaper competitors.

“Despite the broader economic malaise afflicting the wider euro zone region, Germany maintains its competitiveness but investors should not under estimate the potential damage that European Central Bank policy can wreak on the country. The ECB must act to ensure that the trading bloc doesn’t enter a deflationary spiral. The EU is more than just Germany,” added the Yamato Global researcher.