German exports hit new high in 2016, trade surplus widens
{{#rendered}} {{/rendered}}Germany's exports climbed to a new high last year thanks to higher demand from other European Union countries, and the country's trade surplus grew as export growth outpaced imports.
The Federal Statistical Office said Thursday that Europe's biggest economy exported goods worth nearly 1.21 trillion euros ($1.29 trillion) last year, 1.2 percent more than in 2015. Imports rose to 954.6 billion euros, a 0.6 percent increase.
Both exports and imports were up from previous records in 2015. The statistical office said that Germany's current account surplus climbed to 266 billion euros from 252.6 billion euros.
{{#rendered}} {{/rendered}}It didn't give a country-by-country breakdown but said exports to other countries in the 28-nation EU were up 2.2 percent compared with the previous year. Exports to countries outside the EU dipped 0.2 percent.