german exporters thrive despite china concerns
Last Updated : GMT 16:22:18
Arab Today, arab today
Arab Today, arab today

German exporters thrive despite China concerns

Arab Today, arab today

Arab Today, arab today German exporters thrive despite China concerns

A gerneral view shows the harbour of Rostock
Berlin - AFP

Germany's export sector is in good shape and is unlikely to be hurt by the Volkswagen scandal, although concerns remain about the economic slowdown in China, the BGA exporters' federation said on Tuesday.

"In the first half of this year, Germany's foreign trade exceeded all expectations," BGA chief Anton Boerner told a news conference.

"Despite a number of different stumbling blocks ... we're confident about the outlook for the coming months, too. And we expect to reach new records both this year and next year," Boerner said.

"But we mustn't let ourselves be deceived by the positive figures," he cautioned, warning of "huge challenges ahead."

For this year, the federation was projecting export growth of six percent to 1.191 trillion euros ($1.3 trillion), Boerner said.

That was even more optimistic than the 4.5-percent increase that it had forecast in March.

Imports were projected to increase by four percent to 947 billion euros.

In the first six months, exports grew by 6.9 percent to 595 billion euros, driven by strong demand for German-made goods in European partner countries such as Spain, Portugal, Italy and France, but also in the United States, BGA said.

The federation attributed the buoyancy of German exports to the low price of oil and the weak euro, as well as the European Central Bank's low interest-rate policy.

Nevertheless, Boerner said the economic slowdown in China was "a source of concern" for German exporters, even if it represented a "natural process of maturing of the Chinese economy."

"But if China were to export its own problems, the German economy would not escape unscathed," he added.

"We must face up to the fact that global growth is slowing," Boerner said.

The European Union, which accounts for more than half of German exports, was also a matter of concern in view of the current massive influx of refugees and the fact that the region's debt crisis remained unresolved, he argued.

And the situation in Russia was "disastrous," the BGA said.

"It will take decades for confidence in Russia to be restored and a solution to the conflict is nowhere in sight," Boerner said.

By contrast, the Volkswagen scandal would not cause any lasting damage for the German economy, he insisted.

"Luckily, the German economy does not solely comprise a single major automobile maker, but a lot of companies that are primarily mid-sized enterprises. 'Made in Germany' is the sum of a lot of different products and services," Boerner said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

german exporters thrive despite china concerns german exporters thrive despite china concerns

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

german exporters thrive despite china concerns german exporters thrive despite china concerns

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday