THE Bavarian Statistical Office reported that export of goods from Bavaria last year grew by 12.9 per cent to EUR189.9 billion (US$208.7 billion), EUR220 million higher than pre-crisis figures.
In Baden-Wuerttemberg, the increase in exports is even more pronounced at 16.9 per cent. The volume of imports also saw growth for Bavaria (+17.2 per cent) and Baden-Wuerttemberg (+14.1 per cent). Bavaria is responsible for handling around 700,000 TEU in the Port of Hamburg, Baden-Wuerttemberg for 340,000 TEU.
Last year's foreign trade figures show a welcome positive trend in southern Germany. With an increase above the pre-crisis level, all signs point to growth in this export-heavy economy. Nevertheless, the outlook is clouded. Disrupted supply chains and bottlenecks are slowing down companies, and the Ukraine-conflict will have a significant impact on exports. In addition, imports in Bavaria exceed exports for the third year in a row.
'The significant increase in exports above the level of the pre-crisis year 2019 is a ray of hope. The Bavarian economy has freed itself from the Covid-low.' Nevertheless, the figures could not hide the fact that companies continue to struggle with uncertainties in the procurement of raw materials and intermediate products, the state said.
The positive development in Baden-Wuerttemberg last year was mainly driven by exports to the US (+ 25.4 per cent) and China (+ 15 per cent), the state' s most important trading partners. At 62.8 per cent, Europe accounted for the largest share of foreign trade. Here, a plus of 17.1 per cent was recorded.
Imports to Bavaria also increased strongly in 2021 with a plus of 17.2 per cent, reaching a new record value of EUR211.8 billion.
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In Baden-Wuerttemberg, the increase in exports is even more pronounced at 16.9 per cent. The volume of imports also saw growth for Bavaria (+17.2 per cent) and Baden-Wuerttemberg (+14.1 per cent). Bavaria is responsible for handling around 700,000 TEU in the Port of Hamburg, Baden-Wuerttemberg for 340,000 TEU.
Last year's foreign trade figures show a welcome positive trend in southern Germany. With an increase above the pre-crisis level, all signs point to growth in this export-heavy economy. Nevertheless, the outlook is clouded. Disrupted supply chains and bottlenecks are slowing down companies, and the Ukraine-conflict will have a significant impact on exports. In addition, imports in Bavaria exceed exports for the third year in a row.
'The significant increase in exports above the level of the pre-crisis year 2019 is a ray of hope. The Bavarian economy has freed itself from the Covid-low.' Nevertheless, the figures could not hide the fact that companies continue to struggle with uncertainties in the procurement of raw materials and intermediate products, the state said.
The positive development in Baden-Wuerttemberg last year was mainly driven by exports to the US (+ 25.4 per cent) and China (+ 15 per cent), the state' s most important trading partners. At 62.8 per cent, Europe accounted for the largest share of foreign trade. Here, a plus of 17.1 per cent was recorded.
Imports to Bavaria also increased strongly in 2021 with a plus of 17.2 per cent, reaching a new record value of EUR211.8 billion.
SeaNews Turkey