German trade group predicts record exports in 2013

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BERLIN (AP) — Germany's exports are expected to reach record levels this year and grow again in 2013.

An industry group predicts German exports will rise 4 percent to €1.103 trillion ($1.45 trillion) in 2012 from €1.06 trillion the previous year.

The Federation of German Wholesale, Foreign Trade and Services said Sunday that it expects exports to increase by up to 5 percent in the coming year and hit €1.158 trillion.

Exports as varied as cars, computer chips and chemicals contribute about a third of Germany's gross domestic product.

German exports have benefited from the low value of the euro compared to other currencies, and strong demand for their goods in the United States and emerging economies like China.

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