Trade In Germany

In 2007 Germany total exports was 1550.9 billion dollars and total imports worth 1320.80 billion dollars. That means that Germany's exports increased by 2.50% and its imports by 3.20% in 2007 compared with 2006. In the same year the foreign trade balance closed with a surplus of 230.10 billion dollars. This was the maximum value documented since the start of collecting foreign trade information. In 2008 Germany total exports was 1721.50 billion dollars and total imports worth 1497 billion dollars. As a result the exports compared with the previous year increased by 2.80% and in imports 3.40%.

The economic and financial crisis in 2008 hit the world economy. As a result in 2009 the world experienced a recession that resulted in the worst contraction in world trade over 70 years. In 2009 exports and imports in Germany experimented a decrease of 13% and 7.80% respectively. The foreign trade which in earlier years had been the main powerful force for progress in the German economy decelerated down economic expansion in 2009. Exports in that year were 1366.8 billion dollars while imports dropped to 1199.20 billion dollars. Also in 2009 Germany lost the recognition of being the largest exporter of goods to China.

Germany is Europe’s export leader and has fortified its position as Europe’s development engine during the crisis as exports bounce back to grow by 15.20% in 2010 after the biggest fall in 2009. Germany also has a 9% portion of the world’s merchandise exports, even bigger than that of the United States and being Germany only a quarter of the U.S. economy. Germany’s economic performance has assisted others in Europe: the latest investigation realized said that 1% of growth in German GDP increases other European countries output by 0.5% and Central European GDP by 1%.

In 2011 exports were 1683.90 billion dollars and imports increased to 1558.40 billion dollars, leaving a surplus of 125.50 billion dollars. Annual exports had an 8% growth while imports were almost in the same range with 7.40% growth. You can also see that in 2012 exports increased once again to 1690.50 billion dollars and imports decreased to 1469.20 billion dollars compared to the year 2011. The trade balance as a result left 221.30 billion dollars as surplus. In the same year the annual growth rate of exports was 3.20% and 1.40% in imports.

The basis of the success of Germany's exports is mainly due to the low cost of labor which has in relation to other countries, while exports have shown an upward trend from 2000 onwards web sites except in 2009 that was affected by the global recession. Germany now has the highest proportion of workers with low wages relative to average national income in Western Europe. Germany’s dependence on external demand has deprived the workers of Germany than they have earned, and should be able to save and spend. This leaves them dependent on exports for growth.

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