Photo: Reuters, Ruben Sprich

Germany’s record trade surplus for 2016 was due to trade with developing countries, Handelsblatt quotes economist Volker Treier of the Deutsche Industrie-und Handelskammertag. Total trade with the European Union was up 8%, but trade with the rest of the world rose by 17.7%, due to rising demand from China, Russia, India, and to a lesser extent from Brazil. “The emerging markets have now left their long economic rut, even if individual markets like Turkey remain a difficulty.”