There has been growing scrutiny over Angela Merkel’s nation’s trade surplus, which has provoked anger from the United States’ president, but the balance sheet for 2017 will add fuel to that fire.
Over the course of the year Germany will sell more across its borders than even they expected with reports claiming exports have hit a “breathtaking rate since the financial and economic crisis”.
While firms, employees and the treasury have all seen the benefit, anger is growing from trading partners over the burgeoning account surplus.
German press have revealed a leaked forecast for the year from foreign trade association Börner Group (BGA), which shows the export estimate has doubled.
Newspaper Welt said this was down to “brilliant foreign business in the first half of the year”.
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The group is reported to be expecting German foreign sales to increase by five per cent over the course of the year, up from 1.1 per cent the 12 months previous.
Companies are expected to see sales of goods from national firms bring in over £1trillion.
Better dealings with EU countries are said to be the key reason for the increase.
BGA president Anton Börner said: ”German exporters are benefiting from the growth in many regions, and in particular also from the fact that Southern Europe is fighting its way out of the crisis and the economies there are growing again.
“In Southern Europe and France confidence is returning. This is where more investment is being made and Germany is also benefiting from it.”
Ifo Institute for Economic Research also predicts Germany will once again have the biggest trade surplus in the world.
The figures will draw anger from critics such as Mr Trump and IMF chief Christine Lagarde.
They could also put Germany on collision course with the European Commission and governments across the continent who believe Mrs Merkel’s nation is not importing enough.
Mrs Merkel, currently on course to win the German general election later this month, will face demands for a debate over the surplus.
President Trump has pushed for protectionism of US interests since being elected to the White House and has Germany in his sights.
Back in May the US leader tweeted: “We have a MASSIVE trade deficit with Germany, plus they pay FAR LESS than they should on NATO & military. Very bad for US. This will change.”