The German Foreign Trade Association (BGA) predicted on Thursday that the country’s exports may rise by up to 3% this year and set a record high of 1.4 trillion euros, suggesting that German companies can expand their overseas operations despite trade disputes and exits.
BGA Chairman Binman told reporters in Berlin that imports are expected to grow by 5% to a record high of 1.14 trillion euros.
Binman also criticized the German industrial minister Altmeier’s new industrial strategy, which envisages a more interventionist policy.
“We must not turn Europe into a fortress,” Binman said. He also said that the government should counter Europe’s measures to weaken competition and prevent the free flow of market forces.