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Oil Gains Approximately 5%

Friday, February 13th, 2015

Crude oil rose on Thursday, cut two straight sessions of decline after the oil industry cut capital spending, as well as the weakening dollar pushed oil purchases. Shell's chief executive said oil inventories may not be able to keep pace with growth in demand after the oil companies reduce investment budgets due to the slump in oil prices since June.

French energy giant Total has become the latest company to announce a reduction in investment and job cuts due to lower oil prices. Total operating expenses mamangkas announced will be $ 1.2 billion this year, while capital expenditures for exploration of less than 30%.

Previous oil fell in two consecutive days after the International Energy Agency (IEA) IEA says oil inventories owned by the countries belonging to the Organisation for Economic Cooperation and Development will approach the all-time record high of 2.83 billion barrels in mid 2015. While the Energy Information Administration reported US oil inventories last week rose 4.9 million barrels, higher than economists' estimates of 3.7 million barrels.

WTI crude oil on Thursday closed at $ 51.34 a barrel, the highest level of $ 51.60, and the lowest $ 49.14

News and Economic Review Zone Asia (China)

The Chinese Government Will Ensure The rate of GDP Approximately 7%

Friday, February 13th, 2015

The Chinese government will cut interest rates, increase liquidity and tolerating currency weakness to ensure the economy has grown by about 7% this year, as they try to ward off deflation and maintain the level of employment is strong enough to carry out the reform, according to sources. The growth rate of around 7%, which is expected to be released as a target of the government in 2015 when parliament meets next month, dianggat as the minimum level required to stop the rise in the unemployment rate, an important political target as making people accustomed to the "new normal level" of growth slower but more robust.

While officials openly reject stimulus policies which they would cast doubt on their reform efforts, making the economy, which has grown at a low level of a quarter-century, regain lost momentum which can lead to loss of jobs and the level of debt defaults on local government and the company. The government aims to put the economy in a stronger position in the future to encourage the flow of capital from SOEs to the private sector more efficient, reform the fiscal system and the liberalization of interest rates, but these changes can inhibit the rate of growth in the short term.

"Restructuring the economy and changes in the development model would be very difficult if there is no stable economic growth," said one of the influential economist who has advised the government. "We must ensure the lower limit of growth. We must have a policy to support the economy if the performance is deteriorating." This support includes further interest rate cuts to offset the cost of credit, and re-cut RRR to increase the liquidity of the financial system.

News and Review of European Economic Zone (Spain)

Spanish Inflation Rate Eases Back in January

Friday, February 13th, 2015

Spain scored losing streak to the consumer inflation rate-7 in January, according to data from the Spanish statistical office, INE on Friday. Spanish consumer price index fell as much as 1.5% in the annual rate in January, compared with a decline of 1.1% in December, according to the INE, confirming data from 2 weeks ago. This figure compared with an annual decrease of 0.6% in the euro zone overall inflation in January.

The decrease is largely due to the drop in oil prices, which has slashed the price of the petrol stations in Spain. Inflation today, beyond the price of energy and fresh food products, rose at an annual rate of 0.2% in January, after a flat in the previous 6 months. The rate of consumer inflation is expected to tertap low for a longer time. The European Commission has estimated that inflation is likely to fall by an average rate of 1% this year, before rising as much as 1.1% in 2016. In the next 2 years, the European Commission estimates that the Spanish economy to grow at an annual rate at 2.3% - 2.5%

News and Review of European Economic Zone

Euro zone GDP Rise in Late 2014

Friday, February 13th, 2015

The euro-area economy to continue its growth momentum at the end of last year with German re-cemented its position as the drive wheel 19 of the country club. The European Union is reporting statistics Gross Domestic Product (GDP) rose 0.3% euro zone in the fourth quarter after expanding 0.2% in the previous three months. This report is higher than the predicted rise of 0.2%. While on the same day, Germany, France, Italy, and Greece also reported its GDP level. German GDP raced twice the prediction with an increase of 0.7%, France's GDP is stagnant with a rise of 0.1%, Italy 0.0% of GDP better than expected 0.1% decline, while the GDP of Greece reported disappointing with a decrease in 0, 2% of the expectations of a 0.4% increase.

The currency bloc's economy is able to continue to pull the economy out of a long recession, but the decline in consumer prices and the reign of anti-austerity parties in Greece overshadowing growth. To avoid deflation in the areas of consumer spending into the economy drive wheel, the President of the European Central Bank (ECB) Mario Draghi announced the quantitative easing program of 1.1 trillion euros. The stimulus package that has pressured bond yields and the euro currency is expected to boost the level of consumption as well as restoring the economy.

"The euro area to get a significant boost from the weakening of the Euro, falling oil prices, and the decline in interest rates triggered QE from the ECB," said Anna Maria Grimaldi, Intesa Sanpaolo SpA economists

News and Review of European Economic Zone (Italy)

Italy's economy shrinks in Q4 Stop

Friday, February 13th, 2015

Italy was able to stop the economy shrank in the fourth quarter of last year also became the third euro zone countries reporting data on Gross Domestic Product (GDP) with better results than predicted. Italian government capable of removing the economy from the negative area, with a rate of 0.0% of GDP, a slight increase from the previous period were down 0.1%. Prior to the data released statistics bureau Italy, Istat, analysts predict the economy shrank by 0.1% decline. The fourth-quarter GDP report is published in the middle of the overwhelming evidence Italian economy finally able to recover in 2015 after three years of recession.

Bank of Italy is now predicting GDP growth in 2015, an average of 0.5% and at least 1.5% for next year. As for some of the factors that are considered capable of supporting the euro zone's third largest country is among the weakening Euro is supposed to be able to increase exports, the impact of quantitative stimulus European Central Bank (ECB), and the rising levels of consumption with lower oil prices

Oil Weakens 2 Session, Ends Under $ 50 Per Barrel

Thursday, February 12th, 2015

Crude oil closed below 50 per barrel late on Wednesday after a report showed the US weekly oil inventories rose more than expected. Energy Information Administration reported US oil inventories last week rose 4.9 million barrels. Analysts polled by Reuters estimate of 3.7 million barrels kenaiakn, increase the amount of inventory that has reached a record high 413 million barrels on 30 January.

Oil on Tuesday depressed after the International Energy Agency (IEA) IEA says oil inventories owned by the countries belonging to the Organisation for Economic Cooperation and Development will approach the all-time record high of 2.83 billion barrels in mid 2015. In the medium term IEA report released Tuesday OPEC expects oil demand to 29.4 million barrels per day this year, in addition to the US shale oil output growth will slow down before it gained momentum further increases.

WTI crude oil trade on Wednesday closed at $ 49.45 per barrel, with daily highs and lows $ 51.14 $ 48.05

News and Economic Review Zone Asia (China)

The Chinese government admits existence Deflation Threat

Thursday, February 12th, 2015

The Chinese government claimed that the national economy is facing the threat of deflation. The low flow of domestic demand makes prices at the consumer level does not go up.

According to Lu Lei, Director of the Research Bureau of People's Bank of China (PBOC), the biggest risk faced by China is a threat of deflation and inflation expectations. "China's economy likely only to grow around 7.1% in 2015, with an increase in inflation of 1.8%," he said in an article published in China Finance 40 Forum.

In 2014 then, the growth of China's economy grew 7.4% at the same time be the slowest growth rate in almost throughout the last century. As for 2015, the government expects the economy to grow 7%. The domestic economy is the driving factor for the shortage of long-term progress. "The manufacturing sector is struggling to restore its competitiveness and manage excess production," added Lu.

As is known, the rate of consumer-price index (CPI), which became the main parameters of China's inflation rose only 0.8% in January compared to the same period of 2014. In the past year, the CPI rose 2.0% compared to the same month in 2013.

Other consideration inflation, policy makers are also advised to monitor the position of foreign exchange reserves in the banking system before making a decision. Banks recorded sell foreign exchange savings valued at 118.4 billion yuan ($ 19 billion) in December due to the influence of the high capital outflow of financial oasar. Foreign investors are starting to worry that the Chinese economy and the performance of the Yuan exchange rate so choose to put their funds in other countries.

News and Review of European Economic Zone

ECB's Praet: ECB Stimulus Should Coupled Structural Reform

Thursday, February 12th, 2015

The European Central Bank's policy to drain billions of euros into the euro zone at risk in vain if the government does not fix the economy, said ECB executive board member Peter Praet on Thursday. Last month, the ECB launched a government bond purchase plan to drain hundreds of billions of new money into the economy to boost euro zone inflation, which has moved into negative territory, back to the target that is slightly below 2%. The move adds another asset purchase program that has launched the ECB to try to prop up the economy.

Praet, the ECB's chief economist, said the new policy seems are trying to penetrate into the market and the economy, but the government must play its role as the ECB stimulus separately creating a more rapid recovery and long-lasting. "Of course, perhaps the biggest risk we face with our new policy is the policy of futile because the government has not done much to improve tingakt confidence in the future," he said. By carrying out structural reforms, the government can increase the potential for economic growth. If they do this, the result will be much more positive. "If the government berdeterminasi in overcoming their structural obstacles, all the requisite increase in growth is surprisingly been met," said Praet.

News and Review of European Economic Zone (UK)

BoE Inflation Slowdown Risk Estimate, Ready Cut Interest Rates

Thursday, February 12th, 2015

Bank of England saw a rise in interest rates is not needed this year, and is ready to cut interest rates if inflation fell to a negative area deeper than expected, the new projections indicated on Thursday. BoE Governor Mark Carney said that he expects inflation will come down levle zero in the coming months due to the falling oil prices are near the low level of 6 years, but stressed that this does not mean that the economy has slipped into deflation.

"English is not currently experiencing deflation," Carney said in a letter to finance minister George Osborne to explain the difference between inflation, which stood at 0.5% according to the latest data, and the central bank's target of 2%. However, if the weak global activity and the UK are at risk of deflation, the BoE said it was ready to cut interest rates, following in the footsteps of other central banks that have taken emergency policy. This is a big change from the previous position, in which the BoE said interest rates below 0.5% have impact drinking, and some banks are too weak to adopt the policy. "MPC (board policy) is ready to take whatever steps are necessary, over time, to ensure inflation back to the target in a timely manner, said Carney.

News and Review of European Economic Zone (Germany)

German Consumer Price Slump in January

Thursday, February 12th, 2015

German consumer prices fell deep into negative territory in January for the first time in more than five years, driven down mainly by oil prices fell sharply, the statistics bureau reported by Germany on Thursday, as the final reading for the month of January.

German statistics bureau, Destatis, confirmed their initial report numbers, calculate based on European standards, but revise down from the initial reading of measurement based on the national methodology.

Very low level of consumer inflation in Germany and elsewhere in the euro zone has underlined the need for expansion of the stimulus package from the European Central Bank which will come into force in March, which will increase the purchase of government bonds for covered bonds and securities purchases assets background.

Consumer prices in the country with the largest economy in Europe, which is measured based on common standards of Europe, fell 1.3% in January on a monthly level and down 0.5% at an annualized rate, Destatis said. This is unchanged from the previous data reported on January 29th.

Destatis reported that consumer prices measured by national standards fell 1.1% on a monthly level and 0.4% at an annual rate in January. It was revised from a decline of 1% and 0.3% for each of the initial reading. The annual figure is the lowest level since July 2009 when prices fell 0.5%, Destatis said.

Oil Back Down, Level Approach $ 50 Per Barrel

Wednesday, February 11th, 2015

Crude oil prices retreated on Tuesday after the International Energy Agency (IEA) warned of the possibility of further price decline due to increasing supply in this year. IEA says oil supplies of the countries belonging to the Organisation for Economic Cooperation and Development will approach the all-time record high of 2.83 billion barrels in mid-2015.

Oil previously had gained three consecutive days until Monday due to a decrease in the number of drilling rigs operating in the US, and the Organization of the Petroleum Exporting Countries which raised expectations of world oil demand in 2015. OPEC expects oil demand to the cartel will reach 29.21 million barrels per day, up 430,000 barrels from the previous projection.

In the medium term the IEA report released Tuesday OPEC expects oil demand to 29.4 million barrels per day this year, in addition to the US shale oil output growth will slow down before it gained momentum further increases.

WTI crude oil on Tuesday closed at $ 50.96 a barrel, the highest level of $ 52.65, and the lowest was $ 49.86.

News and Economic Review Zone Asia (China)

Businessman complaining Anti-American sentiment in China

Wednesday, February 11th, 2015

In the business sector, consumer nationalism factor is often the determining factor of success expansion of foreign companies in the country. Not infrequently the people of a country are reluctant to use foreign products simply because the manufacturers from countries 'enemy'.

It is perceived well by US companies doing business in China. Businesspersons from the land of Uncle Sam complained profit decline of the world's largest market share in recent times. In addition affected by the decline in consumer spending power, they are not very salable products due to the anti-American sentiment.

According to the US Chamber of Commerce survey, most businesses assess US companies have always used as 'victims' negative campaign conducted by the Chinese government. Various allegations about the monopoly business and the number of investigations by competition watchdog has narrowed the American company's business. No wonder consumers are often 'consumed' by the negative campaign the government so reluctant to spend money to buy goods made in western countries.

A total of 47% of the companies surveyed felt it was not welcomed by the Chinese government as compared to one year ago. Only about 10% were still regard China as a country that is "friendly" to do business.

As is known, the supervisory authority of the Chinese businesses increasingly diligent investigation of the American companies. Most are brands and automotive technology products, with accusations of monopolistic practices. The latest sanctions issued by the Chinese government imposed on the company computer and cell phone chip maker Qualcomm, with record fines reaching $ 975 million for alleged breach of competition law. The world's top corporations sort of Apple and Microsoft are also being investigated by the Chinese.

Even so, as much as 60% of the American Chamber of Commerce of China still rate as one of the 3 most potential business destination. The majority of the company aims to increase its turnover in 2015 and only 31% of companies are not planning to expand into China.

News and Review of European Economic Zone (Greece)

Greece, OECD Agree to Cooperate In Reform

Wednesday, February 11th, 2015

Greece and the OECD on Wednesday agreed to cooperate in the reform of the Greek economy, but the Athens insists will not let outsiders decide what policy adopted. Beribcara ahead of a meeting of eurozone finance ministers in Brussels, where Greece will present the request to terminate international bailout and the transition to the new debt restructuring agreement, Prime Minister Alexis Tsipras said Greece is committed to implement the reforms, but not as he was told by others.

Organisation for Economic Co-operation and Development has previously been membeirkan Greek "policy tools" to design the necessary reforms Athens by international creditors. OECD Secretary General Angel Gurria said the organization will work together to help Greece achieve the target of reforms. "The crisis resulted in lower growth rates, high unemployment rate ... and the people of Greece have suffered directly," Gurria said in a press conference with Tsipras. "The crisis has led to the increase in the gap and produce a sharp erosion in optimism," he said.

News and Review of European Economic Zone (Greece)

Prime Minister of Greece Get Confidence Motion

Wednesday, February 11th, 2015

Greek Prime Minister Alexis Tsipras easily won a vote of confidence in his plan to stop the bailout program and dealing with European leaders as both sides prepare to attend a meeting in Brussels this week. In a speech to parliament, Tsipras praised the important role played by Greece in the reshaping of Europe and promised that the party would not be subject to Athens to ask for an extension of an international bailout regardless of "how much" German Finance Minister Wolfang Schaeuble asked for it.

"We do not negotiate a bailout; it has been undone by his own failure," he said in parliament before winning the vote with the support of 162 of the 300 total seats voice. "I want to emphasize that there is no turning back. Greece can not return to the era of the bailout."

This happens after Schaeuble said that if Greece does not want a new aid program, "will be," added a number of warnings from officials in Europe yagn urged Athens to obtain an extension of the bailout program that will expire this month. Tsipras - which has the support of 75% of Greek society according to opinion polls, said he was confident that both sides will reach an agreement. Yet there has been little progress in bridging the difference signal ahead of a meeting of euro zone finance ministers on Wednesday and EU leaders on Thursday that would restrict aid to Athens after February.

News and Review of European Economic Zone

Euro Moves Ahead of Talks Stable Greece

Wednesday, February 11th, 2015

The euro was steady against the dollar on Wednesday as uncertainty about whether Greece can reach an agreement to extend the bailout program has made investors nervous.

During the Euro was down about 0.1% to $ 1.1315, while the EURJPY climbed 0:11% at 135.31.

Trading was thin with markets in Japan were closed for a national holiday.

Currency Euro area supported by reports that the European Commission will propose an extension of six months for the Greek bailout program in an emergency meeting of euro zone finance ministers.

Athena is also expected to ask for a loan to cover the funding needs until September, and also propose new reforms to replace some strict austerity programs related to the bailout program.

Greek Prime Minister Alexis Tsipras has said that he will fulfill his promise before the election to remove and reject the austerity program extension of the bailout, it sparked fears about the future of Greece in the Eurozone

IEA report Reduce Oil Prices Rally

Tuesday, February 10th, 2015

Crude oil prices traded lower turning on Tuesday's Asian session, after the International Energy Agency said that if the United States will still be the main source of supply growth in the world until 2020. The eroded expectations of a dramatic slowdown in output growth in shale oil. The IEA estimates that oil shale production growth will be hit by the fall of the current price, but then will regain momentum.

In the same occasion IEA also predicts global oil demand will increase to 29.4 million barrels per day this year.

The oil price rally could get an extra boost on Monday after the release of the monthly report of the Organization of Petroleum Exporting Countries. According to OPEC, oil demand for 2015 will increase to 29.2 million barrels per day as reduced supply growth in the US.

While concerns about supply disruptions following the outbreak of the conflict in Libya has gradually eased. Strike by security guards who had been crippling Hariga oil port in eastern Libya is said to have ended on Monday night

News and Economic Review Zone Asia (China)

China Inject $ 7.2 Billion In addition to the Money Market Liquidity

Tuesday, February 10th, 2015

China adds liquidity to the financial system for 7 consecutive weeks, as part of Beijing's efforts to reduce seasonal cash pressure and overcome the economic slowdown and capital outflows.

People's Bank of China added 45 billion yuan ($ 7.2 billion) into money markets of China on Tuesday, potentially making the move as liquidity injections longest period since July last year. The extra liquidity, together with a decrease in bank required reserve ratio last week, is expected to help the government to stimulate growth. The move also can suppress the money market interest rates and provide lower borrowing costs for banks and companies.

PBOC liquidity operations every Tuesday and Thursday, with an average inject 39.3 billion Yuan per week

News and Review of European Economic Zone

France Warn Greece To Obey Rules

Tuesday, February 10th, 2015

Both parties are involved tough debate about the future with Greece in the euro zone must respect each other's views to reach an agreement, said French Finance Minister Michel Sapin. "There are other ways, as long as we respect each principle," he said on the sidelines of a meeting of G-20 finance ministers in Istanbul. "First: We must respect the election results in Greece. The new government has been elected. It is impossible to ask the new government to do the same thing as the previous government. Second: Greece must know the regulations in Europe, in cooperation with the IMF, the ECB, and the Union Europe. We should all respect each other so that there is room for a deal. "

However, Sapin warned, Greece must comply with the requirements bailout deal worth 240 billion euros (271 billion euros). "Greece can not act like there are no rules. In Europe, there are separate rules. Greece is part of the IMF, and has become part of the European Union almost from the beginning. Greece has said that the ECB is the central bank them. So they must act within the framework that. "

News and Review of European Economic Zone (UK)

UK Industrial Output Slows Coming Back End Years Ago

Tuesday, February 10th, 2015

British industrial output slowed in the back end of last year, depressed by the maintenance of the cultivation of oil and gas in the North Sea, amplifies the signal that the UK economic recovery begins to slow down approaching the end of 2014. Industrial output fell as much as 0.2% for the monthly rate in December, compared with estimated to increase by 0.1%, after unchanged in November, according to the Office for National Statistics on Tuesday. With the British people will participate in the elections less than three months away, the outlook for the economy became the main focus by all political parties. Prime Minister David Cameron has said he wants the UK more dependent on exports, but weakness in the euro zone has made the British economy is more dependent on the level of consumer demand.

For the fourth quarter as a whole, industrial output rose as much as 0.1%, higher than the decrease of 0.1% which has been used to estimate keemapat quarter GDP by the ONS. But the ONS said that the revision is not high enough to change the projection of GDP growth of 0.5% when releasing the second estimate of fourth-quarter GDP on 26 February.

News and Review of European Economic Zone (France)

French Industrial Production Exceeds Estimates

Tuesday, February 10th, 2015

The results of industrial production increased in France reported last December 2014. According to the statistics agency Insee center, the increase in production occurred in all sectors of industry without exception.

Figures French industrial production rose 1.5% over the period of November 2014. The percentage increase was exceeded financial analysts' forecasts, which only predicts an increase in industrial production by 0.4% per month. Although the European economy is still sluggish, industry players in France was able to maintain its performance from month to month. Energy and mining sector rose 2.8%, while the manufacturing industry rose 3.4%. The transport line rose 2.9% and the production of household appliances rose 1.2%

Oil Record Weekly Strengthening 7.2%

Monday, February 9th, 2015

Crude oil closed higher on Friday, noting weekly gain of 7.2%. Analysts say oil rose following apiknya US employment data which raised hopes for an increase in energy demand, as well as due to the reduced number of US rigs operating. Oil had gained two consecutive weeks, and in the last session gold rallied nearly 20%, but still 50% lower than the highest peak in the middle of last year.

Data from Baker Hughes shows the number of rigs operating in the US as much as 1,456, and is the lowest level since March 2010. From last week, the number of operating rigs fell as much as 5.6%. In early December, the number of rigs in operation as of 1920, the drastic decline potentially reduce the number of US oil production.

Oil on Friday's trading to close at $ 52.34 per barrel, with daily highs $ 53.16, and the lowest $ 50.72

News and Economic Review Zone Asia (China)

Although surplus, China Export Decline in January

Monday, February 9th, 2015

Unexpectedly, the value of China's exports declined in the period of January 2015. According to data released today, the volume of shipments abroad dropped due to lack of demand from its trading partner countries.

The decline in the value of China's exports are offset by the weakening of the import sector. China has benefited from the decline in the price of oil and gas products, but on the other hand the interest of its citizens import consumption is also low so order goods from abroad is reduced. Thus, China's trade surplus back scored regardless of the export sector sluggishness.

The value of exports fell 3.3% compared to January 2014. The figure is far below the annual export report from December, the figure soared 9.7% and the target of economists surveyed by the Wall Street Journal (+ 4%). The annual imports slumped period January was 19.9%, far worse than the decline in December that only amounted to 2.4% and below expectations, + 3.3%.

Further burden the poor performance of exports in the country heading Asia's largest economy. China's economy last year grew only 7.4% or the percentage of the worst for 24 years. While at the same time manufacturing sentiment fell to its lowest level in 28 months. Difference in value of exports and imports, leaving a trade surplus in the month of January 2015 amounted to $ 60 billion over the surplus in December reached $ 49.6 billion and $ 48.4 billion prediction.

News and Review of European Economic Zone (Greece)

Increased Investment Risk, Interest Greek Bonds Rise

Monday, February 9th, 2015

Greek bond interest today soared amid the country's exit from the discourse of the bailout program designed by the European Union, the European Central Bank and the International Monetary Fund (IMF). Yield increases sharply as the amount of investment risk if Greece really do not want to run the budget austerity agenda.

Prime Minister Alexis Tsipras who was installed already started a war of nerves with the government of the European Union. He openly expressed his intention to defect from the rules imposed by international creditors.

Impact, interest letter Greek debt soared, where the 2-year tenor bond returns recorded in the number of 20.77%, up 339 basis points in one session. As for debt assets tebor 5 years, interest rose 206 basis points to 16.02% and the 10-year tenor bonds recorded in 11.03%, up 86 basis points.

News and Review of European Economic Zone (UK)

BOE Carney Praise ECB Policy

Monday, February 9th, 2015

Bank of England Governor Mark Carney praised the latest movements of the European Central Bank to raise Eurozone economy and said that the current global financial markets will be more resilient to shocks other extras.

"There are many reasons why the ECB is very important actions, one of which refers to the ECB which has a range of policy tools to support what is needed by the economy, the ECB has taken bold action," Carney said in the event the Institute of International Finance at the sidelines of the ministerial meeting finance and central bankers G-20 in Istanbul.

The urge to shore up the global financial system would pay for itself in the long run and it is the recommendation of reform after the crisis of 2008 by the Basel Committee on Banking Supervision and the Financial Stability Board, with Carney as its chairman, was ready to start making a difference, he said.

"This system is much durable, more resilient, and these systems tend to reinforce themselves of additional surprises," Carney said, adding that the international banking network and liquidity will not be interrupted as the lifeboat after the crisis in the US housing market that triggered the global crisis in 2008.

News and Review of European Economic Zone (Germany)

Sector Trade Show Performance Fantastic Germany in 2014

Monday, February 9th, 2015

Although the European economic conditions are less favorable, the German trade sector has recorded an impressive performance. The value of exports, imports and the amount of surplus state blue continent's largest economy soared to record highs in 2014.

According to data from Destatis a while ago, German exports (adjusted for seasonal factors) rose 3.4% in December compared to the previous month. While the volume of imports declined 0.8% to trade creates a surplus of 21.8 billion euros ($ 24.7 billion). Before the data was released, analysts surveyed by the Wall Street Journal just predict a trade surplus of 18.8 billion euros in the last month of 2014.

Meanwhile, for a period of one full year, the German success record exports, imports and surplus of all time. Total surplus even soared to 217 billion euros, equivalent to Rp3.114 trillion and nicks break the previous record in 2007, which amounted to 195.3 billion. The results of this data reinforces the assumption that the line of the German economy remains strong amid slowing economic climate of Europe, Asia and America.