German exports up 2.7pc in Feb

FRANKFURT, Apr 8 (AFP): German exports picked up in February after a decline in January, official figures showed Friday, another sign of sustained economic activity in Europe's powerhouse. Exports rose 2.7 per cent from January to a calendar- and seasonally-adjusted 84 billion euros ($121 billion), the Destatis statistics office said, while imports were 3.7 per cent higher at 71.9 billion euros. The trade surplus slipped to 12.1 billion euros from 12.7 billion euros a year earlier. Economists polled by Dow Jones Newswires had forecast a slightly higher surplus of 12.5 billion euros. In January, German exports declined 1.0 per cent, while imports rose 3.7 per cent, Destatis said, revising the import figure from an initial estimate of 2.3 percent for Europe's biggest economy. Another report adds: German luxury car makers have had a strong first quarter for sales, setting new records on the back of soaring demand in emerging markets, with China in the lead. BMW, the world's leading premium auto manufacturer, said Friday that first quarter group sales rose an annualised 21.3 per cent to 382,758 BMW, Mini and Rolls-Royce vehicles, its best result ever for the three-month period. In March alone, the group posted sales of 165,842 for a 12-month gain of 17 percent to surpass its previous monthly record in December 2007.