Export is slowing down


You can get your Now read out messages as well. To do this, simply click on the play symbol in any article or add the article to your personal playlist using the plus symbol and listen to it later.

Listen to the article:

The order books of German companies are actually well filled. However, a lack of material sometimes makes processing quite difficult.

Wiesbaden (dpa) – German exports lost momentum in August. According to the Federal Statistical Office in Wiesbaden, exports fell compared to the previous month, calendar and seasonally adjusted, by 1.2 percent.

Supply bottlenecks and material shortages are a problem for companies. According to the BDI industry association, the German economy will have to prepare for a difficult autumn.

«Problems in global supply chains, high logistics costs and unresolved trade disputes are darkening the economic sky and have the consequence massive impact on exports, ”said Joachim Lang, General Manager of the Federation of German Industries (BDI).

In total, goods worth 104, 4 billion euros abroad. Compared to August, which was marked by the Corona crisis 2020, this was an increase of 14, 4 percent. Imports increased by 18, 1 percent to 93, 8 billion euros. Compared to the pre-crisis level of February 2020, according to the preliminary statistics, exports rose by 0.5 percent.

Companies in Germany are sitting on well-filled order books, but are sometimes unable to process them due to a lack of material. This affects mechanical engineering and car production, among others. At car companies, the production lines keep standing still. Traffic jams at ports and a lack of container capacity also hinder exports.

In the first eight months of the year, goods exports fell by 15, 9 percent up 892, 7 billion euros up. Conversely, imports of 767, 6 billion euros to Germany (plus 15, 9 percent).

Related Articles

Back to top button