Business

German exports rise again in June

VW cars wait to get loaded onto transport ships at the Volkswagen car factory Emden
Image caption Strong demand for German goods in Asia have boosted exports

Germany's exports rose faster than expected in June, a further sign of recovery in Europe's biggest economy.

Exports were up 3.8% compared with a month earlier, and up 29% on the year, according to Germany's federal statistics office.

Investors hope the strong figures mean Germany's economy grew faster in the second quarter of the year.

Exporters' profits have been boosted recently by strong demand from Asia and other emerging economies.

Exports to countries outside the eurozone grew by 37% compared with a year ago, the figures showed, while exports to the eurozone were up 22%.

The growth has widened Germany's trade surplus, with the value of exports now 12.3bn euros ($16.3bn; £10.2bn) greater than the value of imports.

Imports also rose in June, by 1.9% compared with May.

Weak euro

Analysts said demand for German goods was especially strong in China, and the boost could mean Germany's economy was now growing faster than previously thought.

Growth of 0.2% was recorded in the first quarter of the year, with much stronger growth anticipated for the second quarter.

Germany is the world's second biggest exporter after China.

It's exporters have benefitted in recent months from a significant weakening of the euro, following the eurozone debt crisis earlier this year.

The euro has since recovered, but still remains below last year's levels, making European exports more competitive abroad.

"German exports are benefiting from the positive development on global markets - above all from the rise of emerging markets supported by capital goods, stimulus packages and the relatively weak euro exchange rate," said Germany's Chambers of Industry and Commerce.

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