German exports will increase 16 per cent this year to €937 billion and clear the €1 trillion mark next year, according to the German foreign trade association, BGA, last week.
German exports are growing because its industry produces exactly what the world’s rapidly growing emerging economies want and need: industrial plants, specialized machinery, luxury vehicles and quality stuffed toys, and environmental and medical technology.
Europe’s largest economy is estimated to expand by about 3.5 per cent in 2010, because sales to India, china and Brazil are booming. In September, exports to countries outside the 27-nation EU block rose by 37.7 per cent in comparison with the same month in 2009.
