German exports hit an all-time high of €118.2 billion ($129.5 billion) in March, according to preliminary numbers released by the Federal Statistics Office on Tuesday. Imports reached €92.9 billion. These are the highest monthly figures ever reported for both exports and imports.
The agency reported that German exports, which include Mercedes and BMW cars or BASF chemicals, increased by 10.8 percent and imports by 14.7 percent in March compared with the same month last year. The numbers represent a 0.4-percent increase of exports and a 2.4-percent rise of imports to the prior month of February.
The foreign trade balance showed a surplus of €25.4 billion in March. A year earlier, the surplus amounted to €25.8 billion.
The European Commission, the International Monetary Fund and the OECD are just a few of the institutions that have criticized Germany of late for its persistent current-account surplus. In 2016, it reached a record of €270 billion, surpassing even China’s trade surplus.