German exports surged in June at their fastest pace in nearly three years, gaining 7 per cent on the month and adding to signs that Europe's largest economy is pulling out of recession.
he seasonally adjusted increase was the biggest since September 2006 and took the value of exports to €67.4 billion from €63 billion in May, Federal Statistics Office figures showed today.
Imports rose by 6.8 per cent to 56.4 billion in June, meaning the trade surplus grew to €11 billion from a revised €10.2 billion in May, the Office said.
The figures were the latest in a series of positive signals from the Germany economy. Official data released on Thursday showed manufacturing orders rose at their fastest pace in two years in June on strong foreign demand.
Economy minister Karl-Theodor Guttenberg also said yesterday that the economy held steady in the second quarter.
June's export rise adds to a recent run of positive reports on the economy which suggest Germany is pulling out of recession after a first quarter when gross domestic product shrank by 3.8 per cent -- the most since reunification in 1990 -- weighed down by a collapse in exports.
Reuters