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German exports soar to record high in 2014

Xinhua, February 9, 2015 Adjust font size:

Germany's exports hit an all-time high in 2014 despite conflicts and crises in Ukraine and the Middle East, official figures released on Monday showed.

The Wiesbaden-based Federal Statistics Office said exports' of Europe's largest economy jumped by 3.7 percent to 1,133.6 billion euros in 2014 while imports also made it to a record high of 916.5 billion euros, up 2.0 percent from the previous year.

This led to Germany's highest ever trade surplus of 217 billion euros, surpassing the previous record of 195.3 billion euros in 2007.

German exporters' business was good especially with the non-euro-zone members of EU countries such as Britain and Poland while the demand from countries outside of the EU, including the world's two largest economies, the United States and China, grew by only 1.5 percent.

Meanwhile Germany's exports to the euro zone rose by 2.7 percent in 2014.

The Ukrainian crisis with the associated economic sanctions trimmed German exports to Russia by about 20 percent, the Statistics Office said. Enditem