Germany's trade surplus narrowed in the first half of the year as strong do...
BERLIN - Germany’s trade surplus narrowed in the first half of the year as strong domestic demand led to imports growing faster than exports, adding to signs that Europe’s largest economy is slowly reducing its dependence on foreign sales.
The International Monetary Fund and the European Commission have urged Germany for years to do more to lift domestic demand as a way to boost imports, stimulate growth elsewhere and reduce global economic imbalances. The Federal Statistics Office said on Friday that imports rose 3.0% to 556.2 billion euros in the first six months. Exports grew 0.5% to 666.1 billion euros.
In a sign that Germany is willing to do more and reduce its trade surplus further, a senior government official told Reuters that Berlin is considering ditching its long-cherished balanced budget policy to help finance a costly climate protection program with new debt.
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