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Germany to become world champion in capital exports in 2016: think tank

Xinhua, September 7, 2016 Adjust font size:

Germany is on track to become the world champion in capital exports this year, research institute Ifo reported here on Wednesday.

According to calculations by Ifo, Germany's current account surplus, which signifies net capital exports, is forecast at 310 billion U.S. dollars in 2016, 25 billion U.S. dollars more than in 2015.

The report said that China is expected to post a surplus of around 260 billion U.S. dollars this year, while Japan follows in third place with a surplus of around 170 billion U.S. dollars.

According to the report, Germany's surplus is based on trade in goods, while services and overseas income together had a negative impact.

It predicts the German current account surplus will rise to 8.9 percent of annual economic output this year, 0.4 percent more than in 2015.

Capital exports measure the share of a country's savings that is not invested domestically. The Ifo business climate index is considered the most important barometer for the German economy. Endit