Germany's trade balance showed an unexpected increase in surplus. Thus, the index rose in December to 21.8 billion versus 18.2 in November. Exports in the country has grown to 103.9 billion euros, that is 10% better than last year. At the same time, imports increased by 4.1% to 71.1 billion euros. Overall, 2014 was a record year for the German economy due to the increase in the trade surplus to 217 billion euros against the previous maximum 195.3 billion euros in 2007. Based on the positive data and start of the program of quantitative easing in the Eurozone, we expect growth of the German stock market in the medium term.