German Exports

Higher and Higher

Hamburg Port source action press
Hamburg port processed 145.7 million tons – a growth of 4.8 percent, in 2014.
  • Why it matters

    Why it matters

    The weakening euro may help crisis countries in the south, but it also benefits Germany, which exports much more outside the currency zone than its southern E.U. neighbors.

  • Facts

    Facts

    • German companies exported goods worth €1.133 trillion ($1.220 trillion) in 2014, an increase of 3.7 percent.
    • Foreign trade with the euro zone grew by 2.7 percent in 2014, with the rest of the world by more than 10 percent.
    • Since the ECB president started preparing markets for massive bond buying, the euro has lost nearly 20 percentof its value against the dollar.
  • Audio

    Audio

  • Pdf

Mario Draghi has led the European Central Bank for nearly three and a half years. Since then, the Italian has left no stone unturned in his efforts to keep the currency union together.

Now, with his zero-interest policy, his billions in support for banks and a government bond-buying program to start in March, Mr. Draghi hopes to prevent the euro zone’s northern and southern partners from drifting apart.

But it is not the weaker countries of the south that are primarily profiting from his actions. His monetary policy is a stimulus for Germany, the strongest national economy on the continent by far.

Thanks to the expansive monetary policy, German finance minister Wolfgang Schäuble can refinance at no charge on capital markets. Also, Germany’s export-heavy economy profits more and more because the euro is so weak.

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