According to the State Statistical Office, foreign trade weakened noticeably from January to August. Exports fell by 2.7 percent and imports by 6.2 percent compared to the same period last year.
The Southwest companies also expect poor business within Europe. According to the IHK survey, 34 percent of companies in the Eurozone expect exports to decline in the next twelve months. In early summer this value was still 29 percent. In the rest of Europe, export expectations are also falling, with around 30 percent of companies expecting declining foreign sales. Expectations also remain subdued for Asia and South and Central America.
For Asia, almost 29 percent of companies expect a decline in exports, while around 26 percent expect an increase. For South and Central America, optimistic and pessimistic feedback is balanced (18.7 percent expect an increase in exports and 18.9 percent expect a decrease in exports).
Business with North America has not yet been affected. Positive impulses are currently still coming from the USA in particular. Here, 35 percent of companies expect an increase in exports, while only 17 percent expect a decline. However, with a view to the US elections, the BWIHK Vice President is skeptical as to how long this positive trend will last. 39 percent of industrial companies already rate geopolitical tensions as a business risk. Depending on the outcome of the election, this could get worse.
