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SURGING SURPLUS

German exporters are loving the cheap euro

Various tools are seen hanging from the ceiling at the engine manufacturing unit for the new Mercedes AMG GT super sports cars during a factory tour for journalists at the Mercedes AMG headquarters in Affalterbach near Stuttgart, September 9, 2014. According to AMG, each engine for the new sports car will be manufactured by hand from a worker, with his personalized name plate on it. The new Mercedes AMG GT, from German car manufacturer Mercedes' sports car unit AMG, will be unveiled during a World Premier party on September 9. REUTERS/Kai Pfaffenbach (GERMANY - Tags: TRANSPORT BUSINESS EMPLOYMENT SPORT MOTORSPORT)
Reuters/Kai Pfaffenbach
Waiting for the next order.
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The euro has weakened by nearly a fifth since early May, driven largely by slowing European growth and rumors of a finalized European Central Bank monetary-stimulus program. The steepest part of the drop came just before ECB president Mario Draghi announced a plan to buy €60 billion per month in euro zone assets. A weak euro makes German exports cheaper abroad, and customers are lining up to take advantage. Germany saw a record trade surplus last year, and the trend hasn’t slowed down yet.

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