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German exports continue reviving in March

Xinhua, May 10, 2016 Adjust font size:

German exports jumped in March due to strong demand from Europe, continuing its reviving path and expanding trade surplus to a new record high, official data showed on Tuesday.

In seasonally-adjusted terms, German exports rose by 1.9 percent in March from February, said German federal statistics office Destatis. It was the second consecutive month which saw a growth in exports.

Meanwhile, imports declined by 2.3 percent. As a result, trade surplus, the balance between exports and imports, widened from 19.8 billion euros (22.5 billion U.S. dollars) in February to 23.6 billion euros (about 26.8 billion U.S. dollars) in March, a new record high.

In the first quarter, German exports increased by 0.7 percent compared with the same period of 2015. According to Destatis, the surge was mainly due to strong demand from the European market, especially from countries outside the 19-country eurozone.

"The strong increase in exports shows that the cooling of the global economy cannot have been as severe as some feared at the beginning of the year," said Carsten Brzeski, chief economist at ING DiBa bank. Endit