BERLIN: Germany is poised to set a new record for the number of goods and services it sells abroad in 2015. A weak euro has made German exports more affordable, but one major trade body has warned this is a double-edged sword.
German exports will continue to defy hard economic times in some key markets and could reach record levels in 2015, one of Germany’s leading trade organizations said.
Buoyed by steady growth in the US, China and some eurozone countries, the level of goods sold abroad by Europe’s largest economy is expected to increase by 4.5 percent to 1.19 billion euros ($1.27 billion) this year, the Federation of German Wholesale, Foreign Trade and Services (BGA) said.
As the American economy recovers faster than expected from years of stagnation and China maintains steady – albeit it less robust – upward momentum, German manufacturers will be able to offset losses suffered in ailing markets in Russia, Ukraine and oil-rich countries.
