Germany defends trade surplus before IMF, World Bank meetings

Berlin

GERMANY on Thursday pushed back against US criticism of its trade surplus, saying ahead of global finance talks in Washington that nobody could blame Berlin for the competitiveness of 'Made in Germany' products.

Economy Minister Brigitte Zypries said the government had only limited influence on trade flows, and the surplus - which data shows hit a record 252 billion euros (S$378.8 billion) in 2016 - was linked to factors beyond its control such as the oil price and euro exchange rate.