Germany experienced a 2 percent decrease in exports in February, falling to 132.9 billion euros (143.5 billion U.S. dollars), as reported by the Federal Statistical Office on Monday. Despite some positive signals in early indicators, German foreign trade remains struggling, said Dirk Jandura, president of the Federation of German Wholesale, Foreign Trade and Services in a statement.
Jandura mentioned that various factors such as declining competitiveness, increased trade barriers, protectionism, and local certification requirements are contributing to the challenges faced by the country’s exporters and foreign traders. The total imports in Germany for February amounted to 111.5 billion euros, with a significant portion coming from China, rising by 16 percent to 12.1 billion euros.
Based on the figures, the United States emerged as the largest customer country for German products, with a total of 13.8 billion euros in imports. Klaus Wohlrabe, an expert at the ifo Institute for Economic Research, believes that world trade is expected to see improvements in the coming months, potentially benefiting Germany’s exports.
Wohlrabe’s forecasts indicate a positive trend in global trade that could help alleviate some of the challenges faced by German exporters. The euro was valued at 1.08 U.S. dollars during this period, emphasizing the economic significance of these export and import figures for Germany.
