THE EUROZONE’S trade surplus expanded in February according to figures published yesterday in Brussels, with the size of Germany’s exports continuing to raise the prospect of a growing political row.
If Germany’s current account surplus grows to an even greater level this year, as is expected to happen by many economists, the European Commission may decide to follow through on a threat to impose penalties on the euro member state for not making efforts to boost domestic demand.
Germany’s €15.3bn trade surplus recorded in January was by far the largest in the EU, with the €5bn gap of the Netherlands in second place.
The euro area as a whole recorded a €13.6bn surplus in February, initial estimates show – up from €9.8bn a year earlier.
The growth was driven by exports, which climbed three per cent in February to €153.3bn.
Imports were broadly flat, coming in at €139.7bn.