Germany set for world-highest current account surplus, economists say

The title of the world's largest current account surplus goes to Germany. (picture alliance / ZB/archive)

Thanks to strong exports, Germany looks poised to take the title of the world's largest current account surplus - largely determined by trade - for the third year running in 2018.

The figure is, however, set to dip slightly as a proportion of Germany's annual economic performance as compared to 2017, falling from 7.9 per cent to 7.8 per cent, according to calculations published on Monday by Munich-based economic research institute Ifo.

Nevertheless, Germany can reckon with a current account surplus of 299 billion dollars - the biggest in the world. In next place should come Japan and the Netherlands, according to Ifo.

Also included in current account calculations are trade in services and income from foreign assets.

Ifo calculates that a surplus in the trade of goods should bring Germany some 265 billion dollars across 2018.

Though exports are roaring away, the growth rate of the German economy looks set to lose steam slightly in Q3, according a monthly report also published Monday by the Bundesbank - the German central bank.

Consumer appetite continues to drive economic growth, but industry is unlikely to contribute significantly, the Bundesbank found.

Notice: No person, organization and/orcompany shall disseminate or broadcast the above article on Xinhua Silk Roadwebsite without prior permission by Xinhua Silk Road.