Germany could overtake the United States to become the world’s second-biggest exporter this year, but its share of global trade is likely to dip as its exports lag global expansion, German chambers of commerce said on Thursday.
Europe’s biggest economy, currently the world’s third-biggest exporter after China and the United States, has seen its share of world trade fall to 7.5 percent by last year, from a post-German unification peak of 11 percent in 1991-92, according to DIHK Chambers of Commerce.
DIHK sees Germany’s share slipping to 7 percent this year and in 2014.
The German economy is rebounding after a slow patch. Data on Wednesday showed it grew 0.7 percent in the second quarter, its fastest quarterly expansion in more than a year and helping pull the euro zone out of an 18-month recession.
The second-quarter expansion, however, was mainly driven by domestic private and public consumption.
via Reuters
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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