NewsCase StudiesEvents

German Exports Suffer Beating

Also in the news...

Foreign travel advice The Gambia

Warnings and insurance Still current at: 23 April 2024 Updated: 22 April 2024 Latest update: Ferry services between Banjul and Barra have been suspended until further notice; The Islamic Summit of the OIC (Organisation of Islamic Cooperation) will be held in Banjul on 4-5 May; road closures and delays at Banjul International Airport ('Safety and security' page).

Foreign travel advice China

Warnings and insurance Still current at: 23 April 2024 Updated: 22 April 2024 Latest update: Updated information on flooding (‘Safety and security’ page).

Guidance Living in South Korea

Information for British citizens moving to or living in South Korea, including guidance on residency, healthcare, driving and more.

Guidance Living in Nigeria

Information for British citizens moving to or living in Nigeria, including guidance on residency, healthcare and passports.

Paul Beare Wins IR Global Member Of The Year

Paul Beare has been named Member of the Year at this year’s IR Global Conference in Amsterdam.

German Exports Suffer Beating

Back to News

Economists have stated that the countrys export-dependent economy will see no sign of convalescence anytime soon.

The global recession has shown no mercy to Europes largest economic power Germany, whose exports have been hit hard by the downturn, causing it to sink deeper into turmoil.

Exports fell 4.4% to 66.6 billion euros in January. Likewise, German statistics have shown that foreign shipments for the same month were down an extraordinary 20.7% annually.Consequently, this news has only abated demand for international raw materials. A trade balance of 8.3 billion euros is its lowest for seven years.

ING Bank analyst Carsten Brzeski stated that the German export sector is suffering severely from the global recession and is pushing the entire economy into a recession. Should exports continue to drop so dramatically, it is speculated that growth will be heavily stunted.

Indeed, economists have stated that the countrys export-dependent economy will see no sign of convalescence anytime soon. 

You are not logged in!

Please login or register to ask our experts a question.

Login now or register.