Germany’s trade surplus soared 28 percent in June compared with May, with exports posting the highest rise in nearly three years, official data showed yesterday.
In a sign that the main motor of Europe’s biggest economy was spluttering back to life, exports enjoyed a 7 percent rise in June compared with the previous month, while imports were up 6.8 percent, seasonally adjusted figures from the Federal Statistics Office said.
The total trade surplus, of 12.2 billion euros (US$17 billion), surprised analysts surveyed by Dow Jones Newswires, who were expecting a weaker result of 10.7 billion euros.
Nevertheless, the trade surplus from January to June this year was 44.8 percent weaker than the same period last year, demonstrating that Germany still has some way to go to climb out of its deepest recession in six decades.
The trade data are the latest in a series of positive surprises for Germany, one of the world’s leading exporters.
On Thursday, the economy ministry reported that industrial orders had jumped by 4.5 percent in June following a 4.4 percent rise in May, adding that prospects for the key sector had improved.
In addition, so-called “soft” data, such as business and consumer confidence surveys are pointing to brighter times ahead in Germany.
However, the government has so far stuck to its gloomy projection of an economy shrinking by a record 6 percent this year, before creeping back into the black next year with a meager 0.5 percent growth.
Separately, the French trade balance showed an increased deficit in June of 4.008 billion euros from 3.137 billion euros in May, adjusted data from the customs service showed yesterday.
In the 12 months to the end of June, the cumulative balance showed a deficit of 52.926 billion euros. In June, exports totaled 27.441 billion euros, a slight fall from the figure in May, owing mainly to a reduction in the number of aircraft exported from an unusually high figure in May.
FREEDOM OF NAVIGATION: The UK would continue to reinforce ties with Taiwan ‘in a wide range of areas’ as a part of a ‘strong unofficial relationship,’ a paper said The UK plans to conduct more freedom of navigation operations in the Taiwan Strait and the South China Sea, British Secretary of State for Foreign, Commonwealth and Development Affairs David Lammy told the British House of Commons on Tuesday. British Member of Parliament Desmond Swayne said that the Royal Navy’s HMS Spey had passed through the Taiwan Strait “in pursuit of vital international freedom of navigation in the South China Sea.” Swayne asked Lammy whether he agreed that it was “proper and lawful” to do so, and if the UK would continue to carry out similar operations. Lammy replied “yes” to both questions. The
‘OF COURSE A COUNTRY’: The president outlined that Taiwan has all the necessary features of a nation, including citizens, land, government and sovereignty President William Lai (賴清德) discussed the meaning of “nation” during a speech in New Taipei City last night, emphasizing that Taiwan is a country as he condemned China’s misinterpretation of UN Resolution 2758. The speech was the first in a series of 10 that Lai is scheduled to give across Taiwan. It is the responsibility of Taiwanese citizens to stand united to defend their national sovereignty, democracy, liberty, way of life and the future of the next generation, Lai said. This is the most important legacy the people of this era could pass on to future generations, he said. Lai went on to discuss
AMENDMENT: Climate change is expected to increase the frequency of high-temperature days, affecting economic productivity and public health, experts said The Central Weather Administration (CWA) is considering amending the Meteorological Act (氣象法) to classify “high temperatures” as “hazardous weather,” providing a legal basis for work or school closures due to extreme heat. CWA Administrator Lu Kuo-chen (呂國臣) yesterday said the agency plans to submit the proposed amendments to the Executive Yuan for review in the fourth quarter this year. The CWA has been monitoring high-temperature trends for an extended period, and the agency contributes scientific data to the recently established High Temperature Response Alliance led by the Ministry of Environment, Lu said. The data include temperature, humidity, radiation intensity and ambient wind,
SECOND SPEECH: All political parties should work together to defend democracy, protect Taiwan and resist the CCP, despite their differences, the president said President William Lai (賴清德) yesterday discussed how pro-Taiwan and pro-Republic of China (ROC) groups can agree to maintain solidarity on the issue of protecting Taiwan and resisting the Chinese Communist Party (CCP). The talk, delivered last night at Taoyuan’s Hakka Youth Association, was the second in a series of 10 that Lai is scheduled to give across Taiwan. Citing Taiwanese democracy pioneer Chiang Wei-shui’s (蔣渭水) slogan that solidarity brings strength, Lai said it was a call for political parties to find consensus amid disagreements on behalf of bettering the nation. All political parties should work together to defend democracy, protect Taiwan and resist
RSS