Bloomberg News

German January Exports Rebound as Global Economy Gains Strength

March 09, 2012

German exports rebounded in January as the global economy showed signs of recovery.

Exports, adjusted for work days and seasonal changes, increased 2.3 percent from December, when they dropped a revised 4.4 percent, the Federal Statistics Office in Wiesbaden said today. Economists forecast a gain of 2 percent, the median of 13 estimates in a Bloomberg News survey showed. Imports (GRBTIMMM) increased 2.4 percent after declining 3.9 percent.

As officials in the euro area, Germany’s largest export market, press on with measures to stem the sovereign debt crisis, the region is likely to lag behind growth elsewhere in the world. The International Monetary Fund forecasts the single- currency region will contract 0.5 percent this year, compared to projected expansions of 1.8 percent in the U.S. and 7.3 percent in developing Asia.

“Global trade is recovering just as domestic demand is increasing,” said Christian Melzer, an economist at Dekabank in Frankfurt, which will lift its 2012 growth forecast from 0.1 percent toward 0.5 percent. “A recession isn’t going to happen in Germany.”

The trade surplus widened to 13.1 billion euros ($17.3 billion) from 12.9 billion euros in December, today’s report showed. The surplus in the current account, a measure of all trade including services, was 8 billion euros, down from 21.2 billion euros a month earlier.

To contact the reporter on this story: Jana Randow in Frankfurt at jrandow@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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