The latest trade figures show Germany – Europe’s largest economy -started the year on a strong footing and is on track to robust growth.
Exports and imports surged in January.
Imports jumped by a very strong 4.1 percent, bouncing back from December’s 1.4 fall.
Exports rose 2.2 percent after a 0.9 percent decline in December.
Interestingly, year-on-year, exports to the rest of the eurozone rose 3.2 percent, but the biggest surge – 9.1 percent – was shipments to European countries outside the currency bloc.
Only shipments to countries beyond Europe fell.
James Ashley, senior European Economist with RBC Capital Markets said: “You want to see stronger German consumption, on the flip-side of that you want to see stronger exports and investment in the likes of say Spain. But for Europe outside the euro area, I think it’s wholly positive that Germany is seeing strong export growth.”
Indicating solid German demand, imports into the country were strongest from the eurozone which should
