Record Trade: German Exports Reach All-Time High
Source: Spiegeleisen
Total German exports in October rose to €99.1 billion ($136 billion), a new all-time high. The previous record of €98.7 billion was set back in March 2012, according to the Federal Statistical Office on Monday. The latest figure also represents an increase on the same month last year of 0.6 percent.
A repeat of the recent international criticism over Germany's massive trade surplus, however, is unlikely, as imports rose at an even greater rate than exports -- at a surprising 2.9 percent. Thus the trade balance, the difference between exports and imports, shrunk to €17.9 billion from the record high of €20.4 billion reached in September.
Read more: http://www.spiegel.de/international/germany/german-exports-reach-record-high-in-october-but-imports-also-increase-a-937961.html
Not bad for a country with strong unions and high wages.
Exports and imports combines equal about 80% of Germany's GDP. In the US trade is about 20% of the economy.
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Now there's a skilled labor shortage, and 5% unemployment. How can you run an economy like that? It can't possibly work. Plus the stores are all closed nights and on Sundays. Crazy.
Good news is, I haven't heard much about the EU failing this week. 