BERLIN: German trade surplus reduced in 2017 due to higher imports. The exports exceeded imports by 244.9 billion EUR, according to the federal statistical office. The highest figure was achieved in 2016 amounting to 248.9 billion EUR. The data is being watched abroad, as Germany has been under pressure internationally for years because of its huge trade surplus. Recently, the head of the International Monetary Fund, Christine Lagarde, also criticized the country’s trade policy.
The German exports grew by 6.3% in 2017 yoy and imports increased by 8.3% yoy. The exports figure beat expectations for a 1% fall while imports also came in stronger than the forecast for a 0.5% decrease.
