World economy: Germany’s exporters continued to grow in May

World economy: Germany’s exporters continued to grow in May

Shortages of materials and scarce raw materials are currently worrying German industry. In May this did not detract from the positive trend in exports abroad.

The global economic recovery is pushing the German export economy. According to the Federal Statistical Office, goods “Made in Germany” worth 109.4 billion euros were shipped abroad in May 2021.

That was 36.4 percent more than in the weak month of the previous year, when foreign trade collapsed as a result of border closings and restrictions to combat the first wave of the corona pandemic.

From April to May 2021, exports rose by 0.3 percent. In the first five months of the current year together, exports are, according to the Wiesbaden authority, with a volume of 554.1 billion euros, 15.3 percent above the value for the same period last year. For the year as a whole, the foreign trade association BGA expects a clear plus, even if a shortage of materials and scarce raw materials have recently burdened business.

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