German exporters lose markets - Bundesbank report: Reason, declining competitiveness!
German exporters have lost significant ground in global markets since 2021 largely due to a broad deterioration in the country's competitiveness.
According to the Bundesbank's monthly report, more than three-quarters of Germany's export market share losses between 2021 and 2023 resulted from worsening supply conditions that left domestic exporters less competitive internationally.
The report found that the decline was widespread across sectors and relatively severe by international standards, signaling deep-rooted structural challenges for Europe's largest economy.
Industries such as mechanical engineering, electrical equipment and energy-intensive sectors such as chemicals were among the hardest hit, according to the report.
The study also noted the impact of rising energy prices and ongoing supply chain disruptions, which severely impacted German exporters during the 2021-2023 period covered by the report.
The report called for urgent reforms to improve the business climate in Germany, including measures to increase incentives to work, reduce barriers for skilled migrants, cut bureaucracy and increase tax breaks for private investment.
The findings come after the German government unveiled a series of measures aimed at boosting investment and innovation, but analysts warn that more comprehensive reforms may be needed to restore the country's competitive edge on the world stage.
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