Germany will remain the world leader in foreign trade surplus

Германия сохранит мировое лидерство по профициту внешней торговли

In the first half of 2018, the highest demand for German goods used in the countries of the Eurozone, other EU countries and in the United States.

In Germany this year for the third time in a row, the world’s highest balance of trade surplus. According to calculations of experts of the Munich ifo Institute for economic research, it can reach 299 billion.

The second place by this indicator is Japan ($200 billion) and the third in the Netherlands, the excess of exports over imports which will be 110 billion dollars.

The exports from Germany exceed the imports by $ 265 billion, said the expert of the ifo Christian Grimme. In the first half of 2018, the highest demand for German goods used in the countries of the Eurozone, other EU countries and in the United States.

In addition, the increase in surplus contribute the proceeds placed abroad of capital, which this year reached 63 billion dollars. At the same time, the growth of foreign trade surplus of delayed payment, including on the economic development of developing countries, which reached $ 45 billion and the trade deficit in services in the amount of 18 billion dollars.

In this case, according to Grimm, this year, the trade surplus of Germany will amount to 7.8% of its GDP, which is 0.1% lower than a year earlier.

Earlier, the President of the United States Donald trump criticized Germany that a surplus in the trade balance it seeks mainly at the expense of the American economy and a detriment. In this regard, he threatened to introduce punitive duties on German cars, one of the main items of export from Germany.

Criticizing the high preponderance of German exports over imports also support the international monetary Fund and the European Commission. The latter considers that the trade surplus more than 6 percent of GDP within a few years threatens economic stability.

We will remind, at the end of 2017 in Germany exports and imports of goods updated record. The volume of deliveries of products abroad rose 6.3%, to 1,279 trillion euros. The trade surplus fell for the first time in eight years and amounted to nearly 250 billion euros.

It was also reported that Germany has reduced the external debt by 40 billion euros. In the first quarter, debt decreased by 2% to 1.95 trillion euros.

Source: Russian service of Deutsche Welle

News from the Reporter.net Telegram. Subscribe to our channel https://t.me/korrespondentnet

Source