The value of German exports and imports has reached new highs in 2016, official data showed on Thursday.

Ideal Import LoanAccording to the provisional data of German federal statistical office Destatis, the value of exported goods amounted to 1,207.5 billion euros (1,292.0 billion U.S. dollars), up by 1.2 percent year on year. The value of imported goods totaled 954.6 billion euros, 0.6 percent higher than in 2015.

Germany exported most goods to the members of the European Union (EU), with the value of 707.9 billion euros, a year-on-year increase of 2.2 percent. Meanwhile, Germany also imported goods worth 632.5 billion euros from EU countries, 1.8 percent higher than in 2015.

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In addition, the value of goods, which Germany exported to countries and regions outside the EU came to 499.6 billion euros in 2016, while imported goods with the value of 322.1 billion euros. The two values decreased by 0.2 percent and 1.7 percent separately.

“Germany’s new export record shows a global interest in ‘Made in Germany’ goods. German export enterprises have setting new records for three consecutive years,” said Benno Bunse, chairman of Germany Trade & Invest, the economic development agency of Germany.

“German companies’ high-quality products and innovative technology is one of the important reasons for Germany’s leading position. These reasons also strengthen the competitiveness of Germany as a place of investment,” Bunse added. (1 euro=1.07 dollars) Enditem

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Source: Xinhua/NewsGhana.com.gh

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