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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: tradermike_1999 who started this subject	12/31/2003 4:40:28 AM
From: smolejv@gmx.net	Read Replies (3) of 74559

German foreign trade on record course - or the wonder of price (non)elasticity of demand 30. December 08:55, supplements 14:31, NZ In 2003 Germany will presumably have exported more than ever in its history. For 2004 the Federal association of the wholesale and foreign trade (BGA) expects even still stronger growth. Germany will presumably end with the largest foreign trade surplus of its history this year, says the census of the statistic federal office, published Tuesday in Wiesbaden. For 2004 now the Federal association of the German large and foreign trade (BGA) expects a clearly higher export growth because of the recovery of the world economy. According to the office for statistics 2003 135 billion euro more goods were exported than imported. That would be an increase of two per cent in relation to the previous record year 2002. As per Federal Office, the provisional numbers were determined on basis of the foreign trade results up to October 2003. Exports at record levels According to the census the exports rose by around two per cent to 664 billion euro. The imports increased likewise by two per cent to 529 billion euro. The export thus has reached highest levels in the history of the Federal Republic. The largest was the increase - of three per cent - in export to the countries of the European union. These countries with 365 billion euro amount to a little more than half of the German export. On the other hand the exports into countries outside of the EU rose only by one per cent to 299 billion euro. The imports from European Union countries rose by two per cent to 268 billion euro. The imports from outside of the European Union rose also by two per cent too to 261 billion euro. Branch federation optimistic for 2004 In the coming year the export trade and industry can also count on a record numbers according to estimate of the BGA. "An increase in exports of around 4,5 per cent is within possible", said BGA chairman Anton Boerner in Berlin. Despite the Euro's strength in relation to the dollar, in the year 2004 exports from Germany could grow "substantially stronger than 2003". The pick-up in world economy will thus also affect Germany. Boerner sees impulses for the world economy particularly in the growth regions of Asia and Eastern Europe. In addition there comes the strong growth in the USA, he continued to say. He cautioned however about the future euro development. "Due to the damaged stability pact we should on a long-term basis be rather concerned about the euro", said the BGA director. (nz) netzeitung.de

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