World

German trade surplus widens as weak euro aids exports to US, elsewhere outside eurozone

German exports soared in July, outpacing an import rise to widen the country's trade surplus as a weaker euro helped bolster trade outside the eurozone.

The Federal Statistical Office said Tuesday exports rose 2.4 percent to 103.4 billion euros ($115.25 billion), adjusted for calendar and seasonal variations. Imports rose 2.2 percent to 80.6 billion euros for a 22.8 billion euro surplus.

The unadjusted surplus hit 25 billion euros, a new record.

German exports inside the European Union rose 6 percent over July 2014, but only 5.5 percent to the countries using the euro currency. Exports outside the EU surged 6.4 percent.

ING economist Carsten Brzeski says a weak euro has helped boost exports, especially to the U.S., which has become Germany's single most important trading partner in the first half.