The German economy is expected to generate in 2015 a record trade surplus driven by the drop in world prices for oil and gas, writes the weekly Der Spiegel Saturday that relies on an internal note from the Ministry of Finance.
The surplus of the trade balance of the first European economy should represent 8.1% of its gross domestic product, against 7.6% in 2014. The decrease in the cost of oil and gas imports explains it only 1.2 percentage points in the growth expected in the trade surplus.
This new record surplus should reopen the debate on the alleged role of Germany in the imbalances in the global economy. In a report published last month, the International Monetary Fund called the Merkel government to strengthen medium-term growth and reduce external imbalances.
The European Commission considers it as trade surpluses consistently above 6% of GDP are dangerous for stability and urged Berlin to encourage investment to boost imports.
(With Reuters)
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