World trade picking up: German exporters
BERLIN: The slump in global trade has already hit its lowest ebb and German trade should also begin to perk up in the coming months, a press report said Sunday, citing a study from a major German industry body.
According to the survey by employers' federation BDI, exports in Europe's biggest economy and one of the world's leading exporters should begin to rise again from low levels in the coming months, the Welt am Sonntag paper reported.
"German firms are looking more positively to the future: the BDI believes that the fall in world trade has reached its lowest point," the paper said.
"The recent figures point to a stabilisation of exports at these low levels. After the positive export figures in May, we expect further consolidation," Werner Schnappauf from the BDI told the paper.
Data released on July 9 showed that German exports posted a slight rise of 0.3 percent from April, despite being 24.5 percent lower than in May 2008.
But Schnappauf warned against getting carried away by the figures.
"One swallow does not make a summer," he said.
"There is still a long way to go with many risks both here and abroad, one of the dangers being growing protectionism in the world," he said.
Despite the prospects of better times ahead, the BDI is still counting on a fall in exports of 15 percent this year compared to 2008 as the global economic crisis puts a brake on demand for goods made in Germany.