German industry expecting rising exports over coming months

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Exports

The continuing pandemic and a persistent shortage of integrated circuits, or chips, are failing to dampen export expectations in Germany’s manufacturing sector, the Munich-based Ifo economic research institute reported on Tuesday.

While Ifo’s export index recorded a marginal decline to 24.5 in July from 25 in June, the figure remains at a high level and well above the minus figures posted a year ago.

Virtually all sectors are expecting to boost their exports, with electrical engineering, mechanical engineering and the food sector leading the way. By contrast, the automotive sector is anticipating only modest gains.

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