Germany’s trade surplus shrinks for the first time since 2009

Germany's trade surplus shrinks for the first time since 2009

In 2017, Germany’s trade surplus went down to 244.9 billion euros ($300.86 billion) from its record-high of 248.9 billion euros reached in the previous year, according to data from the Federal Statistics Office. It was the first decline since 2009.

The wider current account surplus, which measures the flow of goods, services and investments, edged down to 257.1 billion euros from 259.3 billion euros in the previous year.

“This will please U.S. President Donald Trump for whom the German export surplus has always been a thorn in his side,” Christiane von Berg from BayernLB said.

In December alone, seasonally adjusted exports rose by 0.3 percent on the month while imports rose by 1.4 percent, the data from the statistics office showed.

The exports figure beat expectations for a 1.0 percent fall while imports also came in stronger than the forecast for a 0.5 percent decrease.