The ongoing economic upswing in the eurozone and beyond has added significantly to growth in German exports over the past few years, according to the country's Federal Statistical Office Destatis.
In particular, the agency reported a 4.1-percent month on month increase in German exports in November 2017, significantly exceeding analysts' expectations.
"It was the strongest surge in three years," Destatis said, specifically referring to Germany's 9.1-percent increase in shipment to fellow eurozone countries in November.
Following recent data, German industrial production rose in November and the #exports are still increasing. Could that affect the #Euro’s value? pic.twitter.com/u9sQQ3bLXf
— GTCM in English (@en_GTCM) 9 января 2018 г.
Destatis reported that Germany had already exported goods worth a total of €116.5 billion ($139 billion US).
Shortfall of Pallets
The German media have meanwhile reported that many local companies had delayed shipments due to the shortfall of pallets to transport their goods within Germany and beyond.
Earlier, Deutsche Welle cited the German Economics Ministry as saying that "full order books and a high level of business confidence point to favorable cyclical developments in the months ahead".
German exports in November 2017: +8.2% on November 2016 https://t.co/42hrd2k5ej #foreigntrade pic.twitter.com/OujeQ7C2J5
— Destatis news (@destatis_news) 9 января 2018 г.
Sophia Krietenbrink of the Association of German Chambers of Industry and Commerce, for her part, said that "four out of 10 industrial firms are putting more money aside for new machinery."
Late last year, the London-based data firm IHS Markit stated in a report that business activity in the eurozone increased further in December, in what was boosted by "strong factory output and an upturn in the service sector."
Just in case you were worried Germany couldn't afford to shut down coal, it turns out they've just had a record year for power exports. German exports = the output of 1/3 of their lignite fleet. HT @cleanenergywire pic.twitter.com/clhlMRjNR8
— Dustin Benton (@dustin_benton) 8 января 2018 г.
