German economic institute expects further decline in country’s exports

Pessimism is increasing in the German export industry at the start of the year, according to research conducted by the Munich-based ifo Institute.

The monthly export expectations surveyed by the institute have deteriorated further this month, with the indicator dropping from -6.1 points in December to -7.3 points in January.

This marks the lowest level in a year, as companies’ expectations have remained negative since May 2023.

“The year has started dismally for the export sector,” said Klaus Wohlrabe, head of ifo surveys. He noted that the mood is being dampened by the tariff increases threatened by US President Donald Trump.

The ifo Institute reported that a majority of sectors foresee declining sales abroad, with the mood particularly bleak in the key automotive industry.

Only a few industrial sectors, including furniture manufacturers, expect an increase in exports.

Source: dpa

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