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New record for the expected German exports for 2012 despite the euro crisis.
The booming sales outside Europe German exports Seen Hitting a new record in 2012.
German exports are set to hit a new high for 2012 as strong sales in the US and emerging economies such as China offset declining export demand in Europe hit austerity rose 4 3 percent in the first 11 months, with a sales leap out of the crisis -Hit Continent.
Exports, a traditional strength of the German economy, are on track to reach new highs in 2012 and 2013 thanks to strong demand for the brand made in Germany out of crisis struck Europe, official data released Tuesday showed.
In the first 11 months of 2012, exports rose 4 percent to 3 1 1 018 trillion 335 trillion, the Federal Statistics Office said stagnant sales to the rest of the European Union contrasts with 10 4 percent higher exports to non-EU countries.
Moreover, the German Federation of Wholesale, Foreign Trade and Services BGA said it expects the value of exports reached 1 103 billion dollars in 2012 as a whole, four percent increase from 2011, when they exceeded the level 1 trillion for the first time it also provides a somewhat stronger export growth of 5 percent in 2013 to 16 trillion 1.
Yet exports weakened at the end of 2012, pulled down by slumping demand in Europe, the biggest market of Germany.
The Statistics Office said exports fell 3 4 percent in November from the previous month exports to the rest of the euro zone 17-nation, hit by austerity drives in the euro crisis , fell 5 7 percent year-over-year Meanwhile, exports were at 27-EU countries decreased 4 0 percent.
The German economy, Europe's biggest, continued to grow in 2012 but at a slower pace than in the previous two years, mainly due to the weak economic environment in Europe, economists said the trade surplus in the first 11 months of 2012 decreased to 146 2 billion 176 2 billion.
The fourth quarter was low for Germany and especially for its major export markets, said Christian Schulz, an economist at Berenberg Bank, the German economy is likely to have contracted in the fourth quarter, but the outlook is better.
The economy is widely expected to take steam again in 2013, although the decline in production is likely to be temporary, said Ulrike Rondorf, economist at Commerzbank.
New record for the expected German exports for 2012 despite Euro crisis SPIEGEL ONLINE, recording, German exports should.