German Economy Faces Steep Challenges as Exports and Industrial Output Decline
Germany's export-driven economy struggles with its longest industrial downturn since reunification, compounded by global trade tensions and reduced competitiveness.
- Germany's exports fell by 1.0% in 2024, marking the second consecutive year of decline, while imports dropped by 2.8%, according to the Federal Statistical Office.
- Industrial production in 2024 decreased by 4.5%, with key sectors like automotive and machinery experiencing significant contractions.
- The export surplus with the United States reached a record €71.4 billion in 2024, but potential U.S. tariffs under President Donald Trump pose risks to future trade relations.
- China's reduced demand and domestic production growth further weakened Germany's export performance, alongside ongoing global economic headwinds.
- Economic forecasts for 2025 remain pessimistic, with industry leaders calling for urgent policy measures to address high energy costs, bureaucracy, and declining competitiveness.
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