German Exporters Expect "Braking Effect"

BERLIN --There is little chance of avoiding a slowdown in German export growth given global economic declines, said the head of Germany's BGA Association of German exporters and wholesalers Wednesday.

"This won't pass us by without a braking effect on the German export economy," BGA President Anton Boerner said in a speech. "We anticipate a cooldown due to lack of new stimulus."

The BGA now forecasts 4% export growth for 2009, valued at EUR1,068 billion. That compares with 6% growth in 2008, in line with the BGA's previous forecasts, with a value of EUR1,027 billion.

The group noted that the figures mean Germany will break the EUR1 trillion mark in export value for the first time in 2008 and will retain the title for one more year as the world's largest exporter.

The BGA forecast 4.5% growth for German imports in 2009, with a value of EUR856 billion. Its 2008 import growth forecast stands at 6%, with a value of EUR819 billion.

"By no means will Germany's export industry collapse in the coming year," said Boerner. "But it will contribute a smaller share to economic vitality than usual."

Germany's percentage of world trade will remain constant at around 9.5%, reported the group.