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This State management of exports was a powerful tool in extracting a fraction of the surplus from exporters.
The fall in exports was the first since 2001.
The promotion of industrial exports was slow to appear.
The drop in exports was larger than that for imports.
The data for Chinese exports was even worse.
From 2002 to 2005, the sharp augmentation of energy embodied in exports was driven by all the five factors.
Betting on exports was fine so long as global demand was brisk.
Devaluation to strengthen Spain's exports was, of course, out of the question.
December's jump in exports was the fastest expansion since May last year.
The decline in German exports was most acute inside the European Union, Germany's largest market.
But the rise in exports was not accompanied by huge numbers of new jobs.
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