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Germany remains world’s No. 1 in exports

According to the German Federal Statistical Office, Germany’s annual exports reached €969.1 billion (about $1.4 trillion) in 2007. Hence, Germany has remained the ‘World Export Champion’ for five consecutive years.

Germany maintains a large trade surplus. In 2007, German’s annual import was €770.4 billion and its foreign trade surplus reached €198.7 billion, 25% more than the previous year’s €159 billion. However, Germany’s export growth slowed down. In 2007, its annual export is 8.5% more than it in 2006. Compared with an export growth of 13.3% in 2006, the country’s export growth in 2007 fell significantly. The euro’s increase in value has had an impact on Germany’s exports. However, in a short period, the euro’s increase in value will not seriously influence Germany’s exports. (