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Industry experts excited for export boost

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Industry experts excited for export boost
Photo: DPA
12:28 CET+01:00
German industry experts said on Monday they were expecting record exports in 2013, as demand for the country's products grows and the world economy begins to strengthen.

“We are expecting a significant rise in the global demand for German products,” said Markus Kerber, director at national industry association the BDI.

The group is anticipating a leap of 3.5 percent this year after racking up €1.1 billion in foreign sales in 2012 - smashing previous records by 3.4 percent the year before even in the face of financial crisis in Europe.

Indeed, 2013 has got off to a good start in the export world and Kerber said that the BDI was feeling even more optimistic about trade over coming months as shaky financial conditions in Europe were calming down.

The USA as well were expected to begin making a recovery, meaning it could spend more money in importing goods from abroad – namely Germany.

As for China, “we expect that recent slow growth will begin to speed up again.”

German exports accounted in 2012 for 8.6 percent of world trade, according to the BDI. Although Europe is Germany's biggest export market, 31 percent of trade is with non-EU countries. Ten years ago, this figure was just 20 percent.

DAPD/The Local/jcw

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