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Germany relies on exports

factoryGermany’s economic performance has continued to outstrip all its fellow eurozone partners, mostly due to foreign trade.

It closed the year with growth of just 0.4% for the year, according to the German statistics agency, which was the slowest expansion since the meltdown began in 2008.

While domestic demand was not strong, job creation was up.

The balance of exports and imports was the "key economic engine in the period", the statistics office said.

Observers believe that good job security, rising incomes and employment along with very low inflation will encourage greater consumer confidence and spending.

Germany’s performance has weakened over the past two years, but it remains in growth. Neighbouring France, however, business activity declined over four consecutive months and companies continued to cut jobs.

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