Germany: Current account surplus at a record high - Rabobank

Piotr Matys, EM FX Strategist at Rabobank, suggests that it is worth pointing out that Germany’s current account surplus grew to a record high of EUR 30.4bn in March.

Key Quotes

“Such a hefty current account not only reflects the competitiveness of Germany’s goods and services in current global environment, but also a prevailing reluctance to use budget surplus as a tool to stimulate domestic demand. In the meantime, the IMF urged the German government to implement various measures to boost still fragile economic recovery in the Eurozone. “Should revenues overperform, as they have in recent years, then the additional financial resources would best be used to promote further investment”, the IMF said.”