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German trade surplus widens in April as exports rise BERLIN: Germany's trade surplus widened in April from the previous month as exports grew by 1.9 percent, official data showed on Monday.At the same time imports fell by 1.3 percent, pushing the trade surplus, the balance between imports and exports, up to 22.3 billion euros ($25 billion) in April, according to seasonally adjusted figures published by the federal statistics office, Destatis.In unadjusted terms, the trade surplus contracted slightly from March to 22.1 billion euros.On a year-to-year comparison, exports from Europe's top economy to non-European countries increased by nearly 12 percent in April, while imports grew just over five percent.Its export and import flows with other European nations were also up, by 4.5 percent and 1.7 percent respectively, with the biggest jumps seen with non-eurozone members.Copyright AFP (Agence France-Presse), 2015 ...

German exports and industry output surge in April, beat forecasts BERLIN: German exports in April rose more sharply than expected and industrial output also increased at a surprisingly strong rate, in a sign that Europe's largest economy got off to a good start in the second quarter.Seasonally-adjusted exports jumped by 1.9 percent on the month, while imports fell by 1.3 percent, widening the trade surplus to 22.3 billion euros, data from the Federal Statistics Office showed on Monday. Economists polled by Reuters had been expecting ...
Japan's revised Q1 growth blows past expectations TOKYO: Japan posted stronger-than-expected growth in the first quarter as a pickup in capital spending powered the world's number three economy, but some economists warned that the recovery could be short-lived.The 1.0 percent expansion in January-March -- or 3.9 percent on an annualised basis -- was sharply up from an initial estimate of 0.6 percent growth, according to the Cabinet Office figures.The upbeat data is good news for Tokyo's efforts to boost the economy, but ...
German economy shifts into higher gear FRANKFURT: The German economy, Europe's biggest, has slipped into higher gear powered by low unemployment, higher wages and the weak euro, the German central bank, or Bundesbank, said on Friday.After notching up growth of 1.6 percent last year, Germany would see gross domestic product (GDP) expand by 1.7 percent in 2015, 1.8 percent in 2016 and 1.5 percent in 2017, the Bundesbank said in its latest monthly report.That marked an "appreciable" upgrade from the central ...
German factory orders rise in April FRANKFURT: German industrial orders, a key measure of demand for goods in Europe's top economy, rose in April, the economy ministry said Wednesday, beating analysts' expectations. Provisional official data showed a 1.4-percent month-on-month increase, following an increase of 1.1 percent in March.Analysts polled by financial services firm FactSet had pencilled in growth of just 0.5 percent for April. The increase was attributable entirely to foreign demand for German-made goods. While domestic orders fell by 3.8 ...
British Chambers of Commerce cuts UK growth forecast for 2015 LONDON: The British Chambers of Commerce on Friday cut its forecast for Britain's economic growth in 2015 after a weak start to the year and while it still expects a steady recovery, it warned the country's vast trade deficit is a "timebomb".The economy will expand 2.3 percent this year, the BCC said, down from its previous projection of 2.7 percent and reflecting weak growth of 0.3 percent quarter-on-quarter in the first three months of 2015."While ...
IMF urges tax reform to help pay for DR Congo elections KINSHASA: The International Monetary Fund has urged leaders in the Democratic Republic of Congo to reform their tax system as part of efforts to pay for costly upcoming elections.In order to boost its revenues DR Congo needs to "implement without delays" an overhaul of its tax administration, including more robust collection and stronger customs enforcement, the IMF said in a statement Thursday.The recommendations come after a IMF visit to the vast, mineral-rich nation for discussions ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln