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Export continues to catch up after the fall of Corona | Free Press

Wiesbaden (dpa) – Driven by demand, especially from China, the German export industry continued to work its way out of the low level of Corona in September. Compared to August 2020, exports increased 2.3 percent, as announced by the Federal Statistical Office.

With a volume of 109.8 billion euros, exports of goods were still 3.8 percent below the same month last year. From January to September inclusive, exports stood at 880 billion euros, 11.7 percent below the level of the first nine months of the previous year.

However, the increase in the number of corona infections and tighter measures to contain the pandemic in many countries are worrying the economy. For the recovery of foreign trade it is essential that the borders for goods and especially for people remain open, warned the president of the Foreign Trade Association (BGA), Anton Börner. “But it is not only the development of the current pandemic that is putting this recovery under massive pressure. So Brexit is also casting its shadow. “Exports to the UK fell almost 20 per cent in September year on year.

According to industry estimates, the recovery phase will take even longer. The Federation of German Industries (BDI) expects exports to decline by 13 percent this year. In the global financial and economic crisis of 2009, foreign trade collapsed by 18 percent.

“This year we only expect an export volume roughly equivalent to six years ago,” said BDI CEO Joachim Lang. He expects the export prospects to deteriorate by the end of the year. “In addition to the current impact of the crown, stricter export control rules threaten to slow the growth opportunities of the global division of labor.” There are also visa and entry restrictions, as well as “excessive” customs fees.

Temporary border closures, logistics disruptions, and supply chain disruptions at the start of the corona pandemic had slowed down the “Made in Germany” business in recent months. After the recovery of the summer, the economy fears another setback.

Business with China, in particular, which is one of the most important sales markets for “Made in Germany” products, recovered significantly in September. Exports to the world’s second-largest economy rose 10.6 percent to 8.5 billion euros compared to September 2019. In contrast, exports to the United States, which were particularly affected by the corona pandemic. , fell 5.8 percent to 9.3 billion euros. The United States has been the largest single market for German exports for years.

Imports to Germany in September were 89 billion euros, 4.3 percent below the level of the same month last year. Imports reached a value of 751.1 billion euros during the nine months, a decrease of 9.3 percent compared to the same period last year.