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The
Finance Ministry is estimating a trade surplus of 8.1 percent of
economic output after 7.6 percent last year, the magazine said,
citing an internal ministry document.
The lower cost of imports of oil and gas is expected to boost
the trade balance by around 1.2 percent alone, the document
said. Without the decline in oil and gas prices, the trade
surplus would have fallen compared with the previous year.
Germany has come under international pressure to reduce its
trade surplus, which critics say contributes to imbalances in
the world economy.
In a report published last month, the International Monetary
Fund said Berlin should focus on bolstering medium–term growth
and reducing external imbalances.
The European Commission considers trade surpluses that are
repeatedly over 6 percent of economic output as dangerous for
stability and has urged Germany to undertake more investment to
stimulate imports.
Despite a fall in exports in June, the larger net balance
between exports and imports meant that the trade surplus widened
to a record 24.0 billion euros ($26.19 billion), data published
on Friday showed.
(Reporting by Caroline Copley; editing by Andrew Roche)
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