German trade surplus grows

Tim Wallace
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LOW OIL prices helped drive Germany’s current account balance to a record high in 2014, official figures showed yesterday.

Exports rose 3.7 per cent over the year, outpacing imports which increased two per cent.

As a result the surplus rose to €215bn (£160bn), equivalent to 7.5 per cent of GDP.

The figure also underlines the sustained competitiveness imbalance between states like Germany and the more troubled periphery.

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