A German port

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Getty Pictures

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Germany’s surplus rose to 252.9bn euros, surpassing the earlier excessive of 244.3bn euros in 2015.

Germany’s commerce surplus hit an all time excessive final yr because the nation continued to export considerably greater than it imported.

Based on the figures, German exports climbed 1.2% to 1.2 trillion euros in 2016, whereas imports rose zero.6% to 954.6bn euros.

This left a surplus of 252.9bn euros, up from 244.3bn euros in 2015.

It comes days after Donald Trump’s high commerce advisor accused Germany of exploiting the euro to spice up exports.

In an interview with the Monetary Occasions final week, Peter Navarro alleged the euro was a German foreign money in disguise, and this gave Germany an unfair benefit over the US and different nations.

A low foreign money makes items cheaper to promote overseas.

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UNIVERSITY OF CALIFORNIA, IRVINE

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Peter Navarro, Donald Trump’s high commerce adviser, mentioned the euro was a German foreign money in disguise.

German Chancellor Angela Merkel rejected the claims, nevertheless, stressing it at all times been her nation’s coverage that the European Central Financial institution ought to pursue an impartial financial coverage.

The German Finance Minister Wolfgang Schaeuble has mentioned that the euro was the truth is too weak for Germany.

“The truth is the euro is priced at a stage that could be a weighted common of all euro zone international locations and that may at all times imply that for some international locations that could be a too aggressive charge resulting in a commerce surplus and that’s definitely the case with Germany.”

Extra usually, Germany says it has tried to spice up its ranges of home demand – and thus increase imports – to offset its giant commerce surpluses.

Measures embody introducing a nationwide minimal wage in 2015 and growing state spending on infrastructure, pensions and digital infrastructure.