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In addition to important foreign trade indicators, the new Foreign Trade Report NRW 2020/2021 paints a regional picture of the mood and prospects for the business situation in the various countries. “The economy in North Rhine-Westphalia has been a turbulent year. The effects of the COVID-19 pandemic, the consequences of Brexit, trade conflicts with China and the USA as well as creeping protectionism shaped the economy of North Rhine-Westphalia in 2020 and brought the export volume to the lowest level in ten years, “says Wulf-Christian Ehrich , Political spokesman for foreign trade at IHK NRW. At 176.2 billion euros, the export total has fallen by nine percent compared to 2019. Nevertheless: North Rhine-Westphalia remains the second largest export country in Germany.
The most important main buyers for NRW exporters include the Netherlands (19.1 billion euros in export volume) and France (14.7 billion euros), followed by the People’s Republic of China (12.1 billion euros), which makes the USA in Trading partner ranking. The United Kingdom has slipped into 8th place (EUR 8.9 billion). According to the current IHK survey “Going International”, the increase in customs bureaucracy, logistics problems and tariff trade barriers have been serious hurdles for the economy since Brexit. The change among the customer countries shows that while trade relations are picking up speed again in some regions, other markets are more difficult to access for NRW companies.
“The Brexit and the pandemic have also triggered a rethink in foreign trade, which the NRW economy must now actively use in order to remain internationally competitive. Because the export business is more than an important pillar for companies and the business location of North Rhine-Westphalia, ”emphasizes Ehrich.
In order to show new ways, the IHKs inform on site about innovative business models, cooperation with startups or investments in digital technologies. “As a close partner, the IHKs are available with consulting services, specialist events, the issuing of foreign trade certificates as well as the organization of business trips and trade fair participations – currently digitally”, concludes Ehrich. In figures: In 2020, 102,190 individual consultations on foreign trade issues and 447 events were held by the IHKs. The number of electronic certificates of origin issued has doubled compared to the previous year to 194,176.
The Foreign Trade Report NRW 2020/2021 can be found at https://www.ihk-nrw.de/taetigkeitsfelder/international.
IHK NRW is the amalgamation of the 16 chambers of industry and commerce in North Rhine-Westphalia. IHK NRW represents the entirety of the IHKs in NRW vis-à-vis the state government, the state parliament and the authorities and organizations that are important for chamber work.
IHK NRW – The Chambers of Industry and Commerce in North Rhine-Westphalia e. V.
Photos: Andreas Dittberner (1), Dimitrij Anikin (1) / both unsplash
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