Arab Today, arab today german exports to grow in 2012 despite economic slowdown
Last Updated : GMT 14:36:57
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German exports to grow in 2012 despite economic slowdown

Arab Today, arab today

Arab Today, arab today German exports to grow in 2012 despite economic slowdown

Berlin - Xinhua

German exports can post a slower-but-solid-enough growth next year, even faced with lasting eurozone debt crisis and world economic uncertainties, the country\'s federation of wholesale, foreign trade and services, or the BGA said Tuesday. The BGA expected Germany\'s exports to boost 6 percent at least in 2012, after a 12-percent surge this year, when the trade volume is set to break the threshold of one trillion euros (1.34 trillion dollars) for the first time. Despite the debt crisis that dragged down several economies within the Europe, emerging markets, which have not been hit hard by the crisis, would continue to power exports of Europe\'s largest economy in coming months, the federation said. Emerging markets, not only often-mentioned ones like India and China but also smaller economies like Indonesia, Peru and Saudi Arabia, would continue to go into business with Germany, as \"they are investing massively in the technologies of the future\" , especially in sectors of energy, telecommunications and transport infrastructure, Boerner said. However, as 60 percent of German commodities go to its partners within the European Union, Boerner warned that if the current debt crisis turned uncontrollable, \"all expectation will make no sense.\" Latest figures showed that sustained by strong exports and solid domestic demands, German economy grew 0.5 percent in the third quarter from the second one, an outstanding outcome in the eurozone area, where many nations are struggling to win back market confidence and get their economies back to the right track. The German government expected its economy would expand 2.9 percent this year. However, the growth would slow down to 1 percent in 2012.  

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