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German arms exports double in five years

Germany has doubled its arms exports over the last five years, making it the world’s third largest weapons dealer after the United States and Russia, according to a new study released on Monday.

German arms exports double in five years
Photo: DPA

Sales of mainly submarines and armoured vehicles helped Germany capture 11 percent of the global arms market, compared to 30 percent and 23 percent for the United States and Russia, the study from the Stockholm International Peace Research Institute (SIPRI) said.

Warships made up 44 percent of all arms exports, while armoured vehicles accounted for 27 percent. The study included the sale of used military wares and goods given away to allies.

Germany’s most important customers included Turkey, Greece and South Africa.

Fourteen percent of Germany’s arms exports went to Turkey, while Greece bought 13 percent and South Africa imported 12 percent – but SIPRI did not place a price tag on the goods.

The growth is part of a worldwide increase of 22 percent in weapons sales in the last five years, particularly in the trade of extremely expensive fighter planes. SIPRI warned of an arms race in tense regions like the Middle East, North Africa, South America and South Asia.

Meanwhile Greece has become one of the world’s top-five importers despite being on the verge of bankruptcy.

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EXPORTS

‘Trade has collapsed’: Germany sees business with UK slump after Brexit

Germany's exports ticked up in January on robust trade with China, but trade with another key trade partner, Great Britain, plummeted after the Britain left the EU.

'Trade has collapsed': Germany sees business with UK slump after Brexit
Southampton harbour. Photo:Andrew Matthews/DPA

The Brexit fallout has continued to hurt commerce with the United Kingdom, with federal statistics office Destatis recording a 29 percent plunge in German exports across the Channel.

Meanwhile, demand for UK goods in Germany collapsed by more than 56 percent, official data showed Tuesday.

Cross-Channel exporters have had to adapt to new customs requirements from January 1, following Britain’s 2016 decision to leave the European Union.

Firms on both sides have since complained of increased bureaucracy and shipment delays as they grapple with the new rules.

BREXIT: What changes in Germany from January 2021?

“Foreign trade with Britain has collapsed,” said LBBW bank economist Jens-Oliver Niklasch.

Overall, German exports rose 1.4 percent month-on-month in seasonally adjusted figures, Destatis said.

But imports sank as coronavirus shutdowns sapped consumer demand in Europe’s top economy.

Imports slumped 4.7 percent, widening Germany’s closely-watched trade surplus to 22.2 billion euros.

Compared with a year ago, before the pandemic ravaged the global economy, exports fell 8.0 percent in January and imports almost 10 percent.

“Consumer demand fell sharply in January due to a lack of opportunities” as the government kept non-essential shops, leisure and cultural centres closed to rein in the coronavirus,  Niklasch.

But demand for “made in Germany” goods was powered by vital trade partner China, which has recovered faster from the virus shock.

Exports to European Union countries plunged six percent year-on-year, while demand for EU goods within Germany was down by almost the same.

Combined with Germany’s struggles to bring down Covid-19 infections despite months of shutdowns, “the January reading is not an indication of renewed German export strength, but rather an alarm bell for the first quarter.”

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