German exports down more than 12% this year -Germany's BGA

Market news

29 December 2020

German exports down more than 12% this year -Germany's BGA

Reuters reports that Germany's BGA trade association said it expects exports to shrink by at least 12% this year as demand from the USA and UK collapsed due to the coronavirus pandemic.

"The COVID-19 pandemic has pushed us back five years when it comes to exports - and at the same time it has catapulted us five years into the future in terms of digitalisation," BGA President Anton Boerner said.

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