Exports rise, industrial production falls - Future uncertain for the German economy
German exports rose in December, while industrial production fell more than expected, reflecting an uncertain outlook for the eurozone's largest economy.
Exports rose by 2.9% compared to the previous month, data from the Federal Statistical Office showed. For the whole of 2024, exports contracted by 1.0% compared to 2023 due to weak demand from China. Imports fell by 2.8% and the foreign trade balance showed a surplus of 241.2 billion euros in 2024.
Increased competition from abroad, high energy costs, still-high interest rates and an uncertain outlook have weighed on Germany's economy, which shrank in 2024 for the second year in a row.
The government forecasts a 0.3% decline in exports this year, which would mark the third consecutive year of decline, due to weakening competition and rising geopolitical and trade tensions.
Industry association DUI said Donald Trump's return to the White House and his tariff threats could shrink the export-oriented economy by almost 0.5% in 2025.
In December, exports to other EU countries increased by 5.9% month-on-month, while those to countries outside the EU fell by 0.5%. The foreign trade balance showed a surplus of 20.7 billion euros in December, up from 19.2 billion euros in November 2024.
Meanwhile, German industrial production fell more than expected in the final month of the year, falling 2.4% compared with November, the federal statistics office said. Revised data showed output rose 1.3% in November 2024 compared with October.
Industrial orders rose by 6.9% in December due to a significant increase in large-scale orders such as aircraft, ships, trains and military vehicles, the federal statistics office reported.
Poll
Parliamentary elections in Kosovo - 100 thousand young people will vote for the first time
Tomorrow, general parliamentary elections will be held in Kosovo. According to CEC data, the number of citizens with the right to vote within the territory......
Which EU countries have the highest and lowest minimum wage increases?!
Romania, Lithuania, Bulgaria and Poland have recorded the highest average annual rate of minimum wage increase in the EU between January 2015 and January......
Government plan for olive trees - Draft/ No felling allowed in developing areas, only relocation
The government is taking measures to preserve the olive tree root fund through the mechanism of their relocation in cases where, based on the planning and......
Foreign workers also in furniture - High demand and labor shortage drives business in the Middle East!
Not only the manufacturing sector, but also the furniture sector is being affected by the import of foreign workers. The high demand for furniture, caused......
Elections in Kosovo/ Voting begins at the country's diplomatic missions!
Kosovo citizens living in the diaspora have begun voting at diplomatic missions for the February 9 parliamentary elections. Voting began at 07:00 in Kosovo......
House prices in Britain reach record highs driven by new taxes coming into effect in April!
The Halifax House Price Index for January in the UK was released on Friday, with the average property price rising to a new record of £299,138 (€358,822)......
Balluku: Albanian products, everywhere in Europe "Agriculture in its best days, but there are still many challenges ahead"
More and more Albanian agricultural products are being exported to Europe and beyond. Deputy Prime Minister Belinda Balluku, also Minister of Infrastructure......
Annual vehicle tax/DPSHTRR: Payment within the deadline avoids paying for two years at once!
The General Directorate of Road Transport Services announced that vehicle owners must pay the vehicle tax within the validity period to avoid paying for two......
