More exports in April Exports almost up again Pre-crisis level

Status: 09.06.2021 11:00 a.m.

Thanks to strong demand from Europe and the USA, German companies exported more for the twelfth month in a row in April. Above all, cars “made in Germany” were in demand. The German export economy continues to grow – albeit not quite as strongly as it was recently. In April it achieved an increase of 0.3 percent compared to March. In total, the companies exported goods worth almost 112 billion euros. This was announced by the Federal Statistical Office. It was the twelfth consecutive month of growth in German exports.

48 percent more exported than in April 2020

Compared to the same month last year, the increase was almost 48 percent. However, this plus must be seen against the background that in April 2020 the German economy was fully in corona lockdown. The strongest growth in exports to Great Britain was in April of the current year. 64 percent more goods were sold there – compared to the same month last year. Exports to the EU countries rose by almost 59 percent and to the USA by around 60 percent. 16 percent more goods were exported to China.

German cars pull the most

German cars were the best exports. Car exports rose by 280 percent. However, this was related to the fact that car production had been shut down sharply due to Corona in April 2020. Exports of German electronic goods rose by 36 percent. In the meantime, exports are only 0.5 percent below the level of February 2020. That was the last month before the effects of the Corona crisis became noticeable in Germany and before the restrictions on the economy began.

Delivery bottlenecks and shortages of raw materials easily dealt with

Economists are impressed by Germany’s export strength. Although material shortages and the lack of intermediate products weigh on industrial production, “but at least the industry succeeds in exporting goods,” said VP Bank’s chief economist, Thomas Gitzel. In April, the German industry had produced less than in the previous month due to delivery bottlenecks and scarce raw materials. In May there could be a setback for the German export economy. The export expectations of the industry surveyed by the Ifo Institute fell from 23.9 points in April to 23.0 points.

Optimism for the rest of the year

Despite small skid marks, German exporters are confident for 2021. The German Chamber of Commerce and Industry (DIHK) recently raised its export forecast to plus eight percent. Previously, growth of only six percent was expected.