Foreign trade
German exports rise – business with the USA increases strongly
Germany’s exporters have again delivered more goods all over the world. Business with Europe and the USA is growing strongly. But the growth with the United States could soon turn.
German exporters have done better business again – especially with the USA, where new tariffs are at risk. In March, goods worth 133.2 billion euros were delivered abroad. That was 1.1 percent more than in the previous month and 2.3 percent more than a year earlier, as the Federal Statistical Office in Wiesbaden reports.
Most German exports again went to the United States: goods worth 14.6 billion euros delivered German manufacturers to the United States, calendar and season-adjusted 2.4 percent more than in February. The above-average growth should also be due to the fact that companies prefer deliveries to avoid the tariffs of US President Donald Trump.
Strong businesses with Europe too
The German exports to the partner countries of the European Union increased by 3.1 percent to 72.3 billion euros. The business with the states of the euro zone grew even more (plus 3.8 percent). Exports to China even grew by 10.2 percent to 7.5 billion euros.
The numbers are still unaffected by the global customs package that Trump announced in early April. With its aggressive customs policy, the prospects for the local exporters, who are an engine for the German economy in good years, are cloudy. In April, the IFO export expectations fell to one of the lowest values since the financial crisis. Trump has already released part of his customs package, but companies are very unsettled by its erratic politics. For example, the United States threatens pharmaceuticals with tariffs.
dpa
Source: Stern
