BGA: Outlook for foreign trade continues to deteriorate

Compared to the previous month Exports to the Russian Federation fell by 62 per cent in March. Delivery delays, failed supply chains and a 31 per cent increase in import prices in March are also weighing on the import side. On the export side, there is also the fact that the global uncertainty is also leading to a slump in demand on foreign markets. Exports to China have also fallen recently.

„In this situation, companies are looking for new suppliers in order to be able to fulfil order books that are still full. For the majority of companies, however, it is not possible to replace suppliers at short notice. Furthermore high energy prices are a particular burden on competitiveness. Of course, the move towards a climate-neutral economy should be maintained. Nevertheless, the German government should refrain from imposing further burdens on supply chains through additional bureaucracy at this time and drive forward the diversification of supply chains through new trade agreements.“

Dr Dirk Jandura, President of the Federal Association of Wholesale, Foreign Trade and Services (BGA)

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The Federal Statistical Office published the foreign trade figures for March 2022 today. According to the figures, goods worth 120.6 billion euros were exported and goods worth 117.4 billion euros were imported. Exports therefore fell by 3.3 per cent compared to the previous month. Imports rose by 3.4 per cent compared to the previous month. Thus In March 2022, the foreign trade balance closed with a surplus of 3.2 billion euros.

Source: BGA