Germany sees Asia-bound exports rising

25th February 2005, Comments 0 comments

28 February 2005 , COLOGNE - Germany, which is likely to be the world's biggest exporter of goods and services yet again this year, can expect to lift Asia-bound exports by some 7 percent to EUR 780 billion in 2005, a study says. Surveying the export outlook, the Federal Agency on Foreign Trade BFAI, a Cologne-based service provider of the German Economics Ministry, says Asia continues to have the greatest potential among Germany's markets abroad. Last year, Asia-bound exports rose 10 percent to EUR 730 bi

28 February 2005 

COLOGNE - Germany, which is likely to be the world's biggest exporter of goods and services yet again this year, can expect to lift Asia-bound exports by some 7 percent to EUR 780 billion in 2005, a study says.

Surveying the export outlook, the Federal Agency on Foreign Trade BFAI, a Cologne-based service provider of the German Economics Ministry, says Asia continues to have the greatest potential among Germany's markets abroad.

Last year, Asia-bound exports rose 10 percent to EUR 730 billion despite a rise in the exchange rate of the euro.

Western Europe remained by far the biggest market for Germany, taking 62 percent of all its exports, but Asia came in second at 17 percent, according to the BFAI.

German IT and communications technology exports have the potential to grow 9 to 12 percent overall this year, it says. Asia-bound growth in this sector would also be significant, with the principal buyers likely to be China, Hong Kong and Japan.

According to the BFAI, the Japanese particularly expect to increase their imports of computers and broadband equipment.

In the electrotechnical and electronics sectors, German business also believes overall exports could rise by as much as 12 percent. The Asia-Pacific area is regarded as the sectors' most dynamic market, with strong exports especially to China, Japan, Hong Kong, Thailand and Vietnam.

The BFAI says German plant and machinery manufacturers can also count on solid sales in the Asia-Pacific region in 2005.

The forecast suggests the sector can expect especial growth in China, with Germany likely to rate as number two after Japan in Beijing's import tallies for the likes of textile-processing and plastics machinery and machine tools.

German chemical producers have also a bright export outlook this year, though the BFAI expects the growth rates towards the United States, Japan and the Asian newly industrialized nations to ease.

Automotive exports worldwide are likely to grow more weakly than before, and the German car industry does not expect any major spurt in its Japan-bound exports.

Makers of German medical technology have high hopes for their 2005 exports and regard the United States, China, Russia and Libya as the markets with strong growth potential.

The latest BFAI figures, for 2003, indicate the principal importers of German medical equipment are currently the United States, France, the Netherlands, Italy and Japan.

DPA

Subject: German news

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