Bavarian foreign trade rising again
07.21.2021 01:00 Economy
Bavarian exports and imports recorded a significant increase of 42 percent in May compared to the same month of the previous year. Karin Lengenfelder, Port of Hamburg Marketing (HHM) representative in Munich , sees this as an indicator for a recovery of the Bavarian economy in international trade.
According to data from the Bavarian State Ministry for Economic Affairs, Regional Development and Energy, Bavarian companies exported goods worth 15 billion Euros. That is an increase in exports of 42 percent. The USA, the People’s Republic of China and Austria are the top 3 export countries.
During the presentation of the foreign trade figures, Bavaria’s Minister of Economic Affairs Hubert Aiwanger stated that the path out of the Covid-19 valley had been long, difficult and, above all, unsafe. Especially for foreign trade. “Even if we are still a long way from the export boom of past years, the export engine has been started again with a lot of horsepower”, stressed Aiwanger. This positive development could also have an impact on the Port of Hamburg. “The Port of Hamburg is predestined as a hub for goods from Bavaria, particular when it comes to exports to China and the USA. The vast amount of train connections ensures a very good connectivity”, says Karin Langenfelder, head of the HHM representative office for Germany South and Switzerland. The flood disaster has no effect on important long-distance Hinterland connections to the Port of Hamburg. Only a few railway lines directly in the Upper Bavarian crisis area are affected by interruptions.
The excellent figures of 2019 have not yet been reached. In May 2021, Bavarian exports of machines, automobiles and “devices for generating electricity” were still 9.8 percent lower.
Despite the positive development, Aiwanger warns: “in this situation, we must not take the momentum from the economic catch-up process. The EU is overwhelming the vehicle industry with its unrealistic requirements related to the proposals for ‘Fit for 55’. The automotive and supplier industry is not only for the Bavarian, but also for the European economy an important engine. The recovery at 84 percent compared to the same month last year is remarkable. However, Bavarian vehicle exports in May 2021 are still 30 percent below pre-crisis level of May 2019. Additional burdens endanger the positive development”.
The minister continued: “We need bold prospects for all industries. The restart of trade fairs in the Free State are particularly important. The Nuremberg and Munich events are national and international top business platforms. Trade fairs support Bavarian exporters and many downstream companies as central turnover platforms. Instead of fixing the incidence value, it needs good hygiene concepts and the implementation of the 3G rule of the event organisers to enable exhibitors and visitors to experience a safe and healthy trade fair. I am sure that we will then be able to hold events with thousands of visitors again.”