"Exporting to Germany", 1998 edition
German-American Chamber of Commerce, Los Angeles
German Goods Sell Well In Foreign Markets
German American Business West, Issue 3/1997, Los Angeles
German export gathers momentum. As the general manager of the Association of German Chambers of Industry and Commerce (DIHT), Franz Schoser, stated at the presentation of a survey at the Chambers of Foreign Trade, exports will increase at a rate of 6 to 7 percent this year, after a 4.6 percent rise the previous year. The German economy will export goods of a total value of 70.8 billion DM until the end of the year. Approximately 7.5% of all exports will go to the U.S. For this year, the DIHT expects a surplus of balance of payments which still exceeds last year's level of DM 99 billion. The good performance of German exports is mainly due to strong economical growth worldwide and the weakness of the Deutsche Mark. According to a survey of all 75 German Chambers abroad, covering 97 percent of the German foreign trade, about 18 percent of exports are done in US-Dollars. The strong US-Dollar makes German products abroad lese expensive, and at the sarne time increases the price for dollar imports. Assuming an economic recovery, however, Mr. Schoser expects German imports to increase by 4 to 5 percent. Since this upswing of exports has not stimulated the domestic economy yet and has not had a positive effect on investments or on the labor market, Mr. Schoser emphasized the urgent need for politicians to improve conditions for Germany as a business location. As demand in Western Europe is growing at a slower rate than in the rest of the world, German businesses have to focus even more on the fast growing Asian-Pacific markets, even though economic developments vary there too. In Europe, demand in the Central and Eastern European countries is steadily growing. According to the survey, imports from other European Union (EU) countries will slowly increase. However, at a rate of 3.5% they will stay behind the average growth of German imports. When looking at Germany's total imports, the EU countries currently account for 56% and will remain on top in 1997.
This Information was put together by Stefan Mannheim, a German law student who recently started a 6-month internship at the GACC's Los Angeles office.