German economy grew by 3% in 2011.

Wednesday, 11 January 2012 02:14

German GDP increased by 3% in 2011- reported Federal Statistics Office.
Although according to initial calculations in last quarter of 2011 German economy might have shrunk by 0.25%.
Last year Germany exported 8.2% more goods and services than in 2010. Import grew by 7.2%.

German deficit was amounted to 26.7 billion euro that is only 1% GDP.
That would mean that for the first time German economy will meet European deficit criteria, under 3% of GDP.

Federal Statistics Office will release official data about fourth quarter and revised all year GDP in next month.