Export nation Germany: crisis and urgent need for action

Export nation Germany: crisis and urgent need for action

In Berlin, Dr. Dirk Jandura, the President of the Federal Association of Wholesale, Foreign Trade, Services (BGA), recently serious concerns about the current situation of German external trade at a press conference. His statements illustrate that the export nation Germany faces major challenges that are influenced by both global and national economic difficulties.

A central point in Dr. Jandura's speech was the statement that German foreign trade is currently in a precarious situation. "German foreign trade is facing a recession," he warned, emphasizing the "growth weakness in the EU internal market" and the "persistently bad figures from China" as decisive factors. The uncertain developments in the United States, where the presidential elections in November create uncertain economic perspectives, are particularly worrying.

entrepreneurial survey and dark views

The results of a recently carried out corporate survey reflect the general negative mood. "The already bad mood has dropped significantly again since the turn of 2022/23," said Jandura and emphasized that the expectations of companies are even more pessimistic for the future. In many ways, 70 percent of the participants see the course of the federal government as wrong and hardly have any hopes regarding already decided economic impulses.

"These answers are terrifying and should finally shake the traffic light coalition," said Jandura. The BGA forecast for IM- and exports in the coming year 2024 is alarming: a decline of -0.3 percent is expected in exports and -2.0 percent among imports. These numbers underline the serious economic challenges with which Germany is faced.

approaches and recommendations for action

dr. Jandura also made it clear that those responsible know which set screws must be operated to save the model of the export nation Germany. "We need less bureaucracy, less burden and, above all, a clear commitment and the courage for more free trade," he emphasized. These comments indicate that a political solution is urgently sought to protect the national interests in global trade.

In terms of trading partners USA and China, Jandura emphasized the need for a strategic approach, regardless of who will win the elections in Washington. "The EU has to prepare itself," he insisted, and called for a pragmatic and honest interaction in trade in China to avoid political and economic isolation.

The concerns of the German foreign trade views require enforcement measures in politics so that economic stability is no longer endangered and the needs of entrepreneurs are taken seriously. Times are challenging, and the economic model Germany now needs a clear direction and effective measures to return to the growth path.