In 2024, German exporters ended a loss despite the increases last December.
The Federal Statistics Office in “Wiesbaden” announced today, Friday, that German goods were exported abroad over the past year, with a total value of about 1560 billion euros, a decrease of 1% compared to 2023.
According to the data, imports to Germany fell more than 2.8% on an annual basis to 1318.5 billion euros.
China’s industrial policy imposes pressure on the German export economy, as is the case – in view of the future – with US President Donald Trump’s implementation of his threats to impose customs duties on imports to the American market.
In the last quarter of 2024, exports were one of the brakes for the German economy stuck in the recession, as it declined much more than it was in the previous quarter, according to the data of the Statistical Office.
But last December, German exports value reached 131.7 billion euros, an increase of 2.9% compared to its previous November, and by 3.4% on an annual basis. Imports also increased in two periods to 111.1 billion euros.
Despite the positive development at the end of the year, the German Foreign Trade, Foreign Trade and Services has already spoke about a “lost year” of German foreign trade in 2024.
According to the Union, about 80% of German exporters expect an additional decrease in sizes and sales in 2025.
According to previous data for the federation, foreign trade sales are expected to decline by 2.7%.
The German “Evo” Institute, which is conducting regular surveys of export -to -export industries, has recently reached that the car industry expectations remain particularly dark.
The expectations in the mineral industry were also negative for more than a year.
Negotiation with Trump
Meanwhile, German Finance Minister Juerg Cookies expressed his conviction that it is recommended to have negotiations with Donald Trump to avoid a commercial conflict with the United States.
The minister of the Social Democratic Party said in an interview with Bavaria Radio that Trump said several times “he wants to send more energy to Europe,” noting that Europe also has a great interest in such purchases.
“Before we enter into commercial conflicts, there is also the possibility of displaying mutual negotiations, which may lead to a good agreement … We have also seen the example of Mexico and Canada that after a short time after the announcement of customs duties, it was also possible to suspend them.”
Trump had previously announced his intention to impose customs duties on the European Union. He recently said that there is no timetable, but that will happen “very soon.”
German companies fear Trump’s fees
Many companies in Germany fear that Trump’s presidency of the United States will harm the German economy.
A poll conducted by the ZE Doubleo Institute for Economic Research showed that about 3 quarters of companies operating in the manufacturing and information economy sectors expect negative consequences, and 15% of them expect very negative effects.
According to the survey, only about 7% of companies expect Trump to have a positive impact on the German economy.
According to the head of the polls department at the ZE -ZEP Institute, Daniel Erdsik, the pessimism of businesses on business development also depends on whether it itself supports goods to the United States, and said: “For example, in the manufacturing sector you expect 55% One of the companies issued to the United States is that Trump’s presidency will have a negative impact on its success, while the percentage is 34% among companies that are not issued to the United States.
