Germany's Trade Surplus Hits a Record High in September

(MENAFN- Qatar News Agency) Germany's trade surplus hit a record high in September after exports jumped more than expected amid international criticism that the nation is not doing enough to simulate domestic demand. Monthly exports grew by 1.7 per cent in September, from 1 per cent in August, amid a pickup in trade with the eurozone, data released by the statistics office Friday showed. Imports were down 1.9 per cent after rising by 0.4 per cent in August, German news agency (DPA) reported. This resulted in the nation's monthly seasonally adjusted trade surplus - the difference between exports and imports - widening to 18.8 billion euros (25.2 billion dollars), from a revised 15.8 billion euros in August. Analysts had expected the surplus to narrow to 15.5 billion euros. The September figure beat the 18.7-billion-euro record surplus set in September 2007. The nation's unadjusted trade surplus grew to 20.4 billion euros, overtaking the record of 19.8 billion euros set in June 2008, the statistics office said. Germany has faced calls in recent weeks from the United States, the International Monetary Fund and the European Commission to take action to scale back its surpluses by stimulating the domestic economy so as to help spur economic growth in the eurozone. Analysts had expected the data to show exports from Europe's biggest economy growing by 0.4 per cent in September and imports rising by 0.6 per cent. Germany exports were 3.6-per-cent higher in September compared with the same month last year, while imports slipped 0.3 per cent on the year, the statistics office said. While exports to the 17-member eurozone rose 4.4 per cent on the year in September, imports gained 1.8 per cent.