China takes over from Germany as export world champion

According to the Association of German Chambers of Commerce and Industry (DIHK) German exports will increase by just 8% in 2007 (after 14% in 2006). For 2008 experts forecast an increase by 9% and an export value exceeding one trillion Euros. However, China is set to take over from Germany as the world’s leading exporting country in 2008 given that China’s exports grow by about 20% annually, predicts the DIHK.

These figures were found out by the DIHK in the course of a recent survey among German chambers of foreign trade (AHKs). According to the DIHK, the figures provided by the AHKs reflect export and import expectations of all AHKs, delegates and representatives of the German business community in more than 80 countries worldwide.

The data provided by the AHKs also give an explanation for the falling export figures in the current year: the global economy is expected to grow by just 4.5% in 2007 (after 5.4% in 2006). For 2008, however, the global economy is forecast to grow by 5%.

All the findings of the »Export und Import 2007/2008″ study are available on the internet. GERMAN