GERMAN TRADE SURPLUS SHOULD NARROW, BUNDESBANK SAYS
Germany's current account and trade
surpluses should narrow sharply in 1987 but they will take a
long time to get back to normal levels, the Bundesbank said in
its 1986 yearly report.
    The procedure would be slow as an abrupt turnaround in
external factors such as oil prices and exchange rates was not
expected. It did not specify what levels it considered normal.
    West Germany posted a record trade surplus of 124 billion
marks in 1986, after 86 billion in 1985 and its current account
surplus widened to 76.50 billion from 44.6 billion.
    Signs imports would continue to rise, a factor already
noted at the start of 1986, while exports rose only slightly,
would lead to a smaller trade surplus, the Bundesbank said.
    In real terms, West German imports rose 5.7 pct in 1986
while exports only increased by 0.8 pct.
    Germany's current account surplus widened to a provisional
6.6 billion in February from 4.8 billion in January but was
down from 6.85 billion posted in February 1986.
    The trade surplus in February widened to a provisional 10.4
billion marks from 7.2 billion in January and was still above
the 6.84 billion reached in the same month the year before.
 REUTER
