China becomes world's top net capital exporter
Date
2/22/2016 11:10:24 PM
(MENAFN- Asia Times) Yuan notes in South Korean bank
Even though Germany’s net capital exports rose 8.3% of its annual economic output to hit a record high in 2015 it was the first China topped Germany since May 2010. In 2014 Germany’s net capital exports rose 7.3%.
According to the European Union a level of 6% is sustainable in the long term which means that Germany remains by far the greatest lender of new funds on both sides of the Atlantic to the debt-afflicted countries.
“This development was driven by goods exports which accounted for a surplus of 262 billion euros also marking a new record” the Munich-based think tank said.
Ifo also predicted that with the continuation of a low oil prices and a weak euro Germany’s current account surplus will continue to rise in 2016 and could very likely exceed 8% of its annual economic output.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.