Bloomberg News

German Export Growth Will Gather Pace Next Year, DIHK Says

August 16, 2012

German export growth will pick up next year as the euro-area economy recovers from the sovereign debt crisis, the DIHK chamber of industry and commerce said.

Exports will grow 6 percent in 2013 after expanding 4 percent this year, DIHK predicted in its world economic report published in Berlin today. That’s still down from 8.2 percent growth last year and a 13.7 percent gain in 2010, DIHK said.

Europe’s biggest economy relies on exports, about 40 percent of which are sold to its partners in the 17-nation euro area. With the debt crisis curbing government and household spending across the region, Germany’s foreign sales are waning, damping economic growth.

Still, DIHK said Germany is benefiting from demand in emerging economies such as China, Indonesia and Vietnam. The country should regain its position as the world’s second-largest exporter in 2013, with China retaining the lead and the U.S. slipping to third, it said. German imports will also grow 4 percent this year and 6 percent next year, DIHK forecast.

To contact the reporter on this story: Stefan Riecher in Frankfurt at sriecher@bloomberg.net

To contact the editor responsible for this story: Matthew Brockett at mbrockett1@bloomberg.net


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