The real interpretation of high German exports

From today’s Open Europe news summary:

German exports hit record high in 2014

German exports hit a record-high of €1.13 trillion in 2014, a 3.7% increase from 2013, the Federal Statistics Office announced on Monday. German imports increased by 2% to €915.6bn, while the German think tank Ifo Institute calculates that Germany’s resulting trade surplus of €217bn is the highest of all countries in the world.

I would rewrite the head line to the above report in this way:
“Germany sends real goods to foreigners and receives worthless pieces of paper in exchange.”
Patrick Barron
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