German Export Trade Faltering, BGA Says
German export trade is weakening, according to Bundesverband Großhandel, Außenhandel, Dienstleistungen (BGA).
“German export trade started off poorly in the second quarter, and we are now feeling the effects of global unrest – not only in politics in general, but, above all, in trade policy,” said Dr Holger Bingmann, president of the BGA.
“Exports have declined. A glimmer of hope is provided by exports to third-world countries and the positive development of imports,” added Bingmann.
In April 2019, goods with an overall value of €109.7 billion were exported, which means that exports have fallen by 0.5%, compared to the previous year.
German imports came to a value of €91.7 billion and rose by 2.1%. The foreign trade balance closed the month with a surplus of €17.9 billion.
“If our exports to the EU countries recede, that should provide us ample food for thought. The figures show how much we depend on political stability in the EU, and it would be good for us all if world affairs calmed down,” added Bingmann.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Jana Zimmermann. Click subscribe to sign up to ESM: European Supermarket Magazine.