General information on the economic situation in Germany and worldwide

Munich 28 July 2010

Credit Constraint Indicator

Further Easing of Credit Constraints

Credit constraints for German industry and trade continued to ease for the seventh month in succession. Currently 31.6% of the surveyed firms complain of restrictive bank lending policies, compared with 34.0% in June. In July 2009 the credit hurdle was at its highest point during the economic and financial crisis at 45.1%. Within one year it has thus fallen by 13.5 percentage points. The recovery in Germany is currently not being constrained much at all by banks’ lending practices.

As already in the past month, the credit hurdle fell in all survey sectors in July – in manufacturing, construction and in the distributive trade. In manufacturing the complaints about restrictive lending policies were fewer among all company sizes. For large companies the credit hurdle fell by 2.8 percentage points to 36.7% and for mid-sized companies by 2.9 percentage points to 30.0%. The strongest easing was for small manufacturers where the credit constraints weakened by 5.2 percentage points to 30.5%.

In construction 38.2% of the survey participants report access to credit as difficult. This is 2.1 percentage points less than in June. In the distributive trade the credit hurdle fell by 1.5 percentage points to 28.5%.

Hans-Werner Sinn
President of the Ifo Institute for Economic Research at the University of Munich

Press release of ifo Institut für Wirtschaftsforschung e.V.

Munich 23 July 2010

Ifo Business Climate Index

Ifo Business Climate Index Rises Sharply

The Ifo Business Climate for industry and trade in Germany has risen sharply in July. This increase is the largest since German reunification. The firms have reported a considerably better business situation than in the previous month. Their business expectations for the coming half year are also more optimistic than in June. The German economy is in a party mood.

In manufacturing the business climate has brightened strongly. The business situation of the manufacturing firms has clearly improved. Moreover, the survey participants are now more optimistic with regard to the six-month business outlook. With regard to exports the firms see similarly favourable opportunities as in June. Available machinery and equipment is being utilised more strongly than in the spring. Capacity utilisation is now only slightly below the long-term average. Firms’ employment plans are more favourable and point towards slight increases in staff levels.

Also in wholesaling, retailing and construction the business climate has brightened. An increasing number of wholesalers and retailers have assessed the current business situation as good. The business expectations of the survey participants for the coming six months are now more positive in both distribution sectors. The survey participants in construction have appraised the business situation considerably more favourably than in the previous month. Their six-month business outlook is slightly less confident than in June.

Hans-Werner Sinn
President of the Ifo Institute for Economic Research at the University of Munich

Press release of ifo Institut für Wirtschaftsforschung e.V.

Paris 22 July 2010

Euler Hermes Chile

Euler Hermes Begins Operations in Chile

This newest office, located in Santiago, will provide accounts management services to Chilean corporate clients. It will allow these clients to expand their domestic and/or international sales safely to existing and new customers. The presence of new local risk underwriters will benefit Euler Hermes’s worldwide clients. “The opening of this office in Chile further represents Euler Hermes’ commitment to be close to our customers and their risk,” said Euler Hermes Americas CEO Jochen Duemler. “This is another step forward in the rebuilding of Chile and we look forward to playing a part in their economic rebound.”

Chile is a vibrant country with a high level of foreign trade and the second largest credit insurance market in Latin America. In 2009, Chile ranked 47th in the world in GDP with $171.5 billion. In addition, the country, with a population of 16.6 million, exported $48.85 billion in goods. Chile produces 1/3 of the world’s copper and is the 5th largest exporter of wine in the world. Although an earthquake devastated parts of the country in early 2010, they are successfully rebuilding and maintain a high level of stability and prosperity.

This is the Euler Hermes Group’s fifth subsidiary in Latin America. With offices in Argentina (opened in 2007), Brazil (opened in 1999), Colombia (opened in 2008), Mexico (opened in 1999) and now Chile, this represents 85% of the region’s GDP.

Press release of Euler Hermes S.A.

Wiesbaden 13 July 2010

Wholesale prices

Wholesale prices in June 2010: +5.1% on June 2009

As reported by the Federal Statistical Office (Destatis), the index of selling prices in wholesale trade was up 5.1% in June 2010 on June 2009. Compared with May 2010, the index of wholesale prices fell by 0.2% in June 2010.

Press release of Statistisches Bundesamt

Wiesbaden 9 July 2010

Insolvency

6.2% less business insolvencies in April 2010

As reported by the Federal Statistical Office (Destatis), in April 2010, German insolvency courts reported 13,949 insolvencies; 2,794 of them referred to enterprises and 8,779 to consumers. The total number of insolvencies increased 2.0% compared with April 2009, enterprise insolvencies decreased 6.2% and insolvencies of consumers increased 6.4%.

From January to April 2010, 56,648 insolvencies (+7.5%) were registered, 11,024 of which were enterprise insolvencies (+3.1%). Altogether the courts registered 36,015 consumer insolvencies, which were 11.3% more than in January to April 2009.

Press release of Statistisches Bundesamt

Hamburg 28 June 2010

Insolvency Forecast (international)

Global Insolvency Index: a moderate trend reversal started in 2010

Global Index: positive but moderate changing trend in 2010, following the negative records in 2008/09.

Download charts (PDF)

Wiesbaden 25 June 2010

Import prices

Import prices in May 2010: +8.5% on May 2009

As reported by the Federal Statistical Office (Destatis), the index of import prices increased by 8.5% in May 2010 from the corresponding month of the preceding year.This was the highest price increase since November 2000 (+10.6%). From April 2010 to May 2010 the index rose by 0.6%.

The index of import prices, excluding crude oil and mineral oil products, was 5.5% above the level of a year earlier (+1.2% compared to April 2010).

The index of export prices increased by 3.6% in May 2010 from the corresponding month of the preceding year. This was the highest year-on-year-price increase since October 2000 (+3.9%). From April 2010 to May 2010 the index rose by 0.5%.

Press release of Statistisches Bundesamt

Munich 22 June 2010

Ifo Business Climate Index

Ifo Business Climate Index Rises Slightly

The Ifo Business Climate for industry and trade in Germany improved slightly in June. The firms are once again more satisfied with their current business situation. With regard to the business expectations for the coming half year, however, for the second month in succession they are somewhat less optimistic. Nevertheless, the business expectations continue to be confident. The economic recovery continues.

In manufacturing the business climate has brightened slightly. The business situation of the manufacturing firms has again improved. For the fourth time in succession the survey participants have assessed their current business situation more favourably. Their optimism with regard to the six-month business outlook has weakened somewhat, however. Exports are not expected to grow as strongly as up to now, but the outlook for foreign business is still regarded as very good. Firms’ employment plans indicate that they intend to keep employee numbers at their current levels.

The surveyed wholesalers are more satisfied with their current business situation. Their business expectations for the coming six months are marked by cautious optimism and remain virtually unchanged in comparison to May. On the whole, the business climate in wholesaling has thus improved somewhat. In construction the business climate index has also risen. The surveyed contractors have appraised their business situation more favourably. They are also more confident than they were in May regarding the business outlook.

In retailing, in contrast to the other survey sectors, the business climate has clouded over somewhat. Although the survey participants are less dissatisfied with their current business situation than they were in May, they are more cautious in their assessments of the six-month business outlook.

Hans-Werner Sinn
President, Ifo Institute for Economic Research

Press release of ifo Institut für Wirtschaftsforschung e.V.

Hamburg 17 June 2010

Insolvency Forecast (Germany)

Trend reversal in the offing in 2011

Euler Hermes Insolvency Forecast 2010/2011

Germany: continuing but decelerating insolvency uptrend in 2010. Trend reversal in the offing in 2011.

Insolvency trend is likely to peak in 2010, with a 1.3% rise to reach 33.100. Trend reversal in the offing in 2011 (-5.4% to 31,300 cases).

Financial losses down 62.8% in 2010 however still 23.3% above the value recorded in 2008, following the drastic jump in 2009.

Download charts (PDF)

Kiel 17 June 2010

Economic Situation

Recovery continues at more moderate pace

Institut für Weltwirtschaft, Kiel:

The cyclical recovery in Germany continued at the beginning of 2010. In the first quarter of 2010, real GDP grew only by 0.6% at an annual rate. However, this is partly the result of rather unfavorable weather conditions. It is very likely that the production losses of the first quarter of 2010, in particular in the construction sector, have largely been made up for in the second quarter. In addition, the acceleration of industrial production growth and of growth of orders to manufacturing as well as the marked improvement of the business climate assessment of firms in the first months of the year indicate that the overall tendency was quite strong in spring. IFW now expects GDP to have risen by 5.8% at an annual rate in the second quarter. This implies that the overall cyclical momentum has been higher in the first half of 2010 than IFW expected in its previous forecast.

Press release of IFW, Kiel

Wiesbaden 11 June 2010

Foreign trade

Foreign trade in the 1st quarter of 2010: exports up 10.3%

As reported by the Federal Statistical Office (Destatis), total German exports rose by 10.3% to Euro 219.5 billion in the first quarter of 2010 compared with the first quarter of 2009. Upon price adjustment, that is without considering changes in value, exports increased by 12.2%.

Press release of Statistisches Bundesamt

Wiesbaden 9 June 2010

Insolvency

6.7% more business insolvencies in the first quarter of 2010

As reported by the Federal Statistical Office (Destatis), in the first quarter of 2010, German insolvency courts reported 42,699 insolvencies; 8,230 of them referred to enterprises and 27,236 to consumers. The total number of insolvencies increased 9.5% compared with the first quarter of 2009, enterprise insolvencies increased 6.7% and insolvencies of consumers increased 13.0%.

In March 2010, 16,192 insolvencies (+13.9%) were registered, 3,125 of which were enterprise insolvencies (+8.7%). Altogether the courts registered 10,339 consumer insolvencies, which were 18.1% more than in March 2009.

Press release of Statistisches Bundesamt

Wiesbaden 9 June 2010

Manufacturing sector

Turnover in manufacturing in April 2010 +1.2% seasonal adjusted on March 2010

As reported by the Federal Statistical Office (Destatis) on the basis of provisional data, the manufacturing sector saw turnover rise in real terms adjusted for seasonal fluctuations and working-day variations 1.2% in April 2010 compared with March 2010 (following a revised +3.1% in March 2010). Domestic turnover decreased by 0.6%, the business with foreign customers increased by 3.5%. Sales to euro area countries were 3.9% above preceding month’s level, while sales to other countries went up by 3.1%.

Compared with the preceding year, real turnover in manufacturing showed a total increase of 13.2% in April 2010 after having been adjusted for working-day variations (after a revised +8.8% in March 2010). Increases were observed in domestic sales (+6.4%), while turnover from business with foreign customers rose by 22.2%. Among foreign transactions, sales to euro area countries increased by 14.7%, while turnover for other foreign countries ascended 29.2%.

When cumulated from January to April 2010 the (working-day adjusted) turnover in manufacturing was 8.8% above the level of the same period of the previous year; domestic turnover rose 4.8% and foreign turnover by a total of 14.0%.

Press release of Statistisches Bundesamt

Wiesbaden 25 May 2010

Building industry

Building industry in March 2010: Value of orders received up 14.9% from the previous year

As reported by the Federal Statistical Office (Destatis), the total price-adjusted value of orders received by building construction and civil and underground engineering enterprises in Germany increased 14.9% in March 2010 from the same month of the previous year. In building construction demand increased 14.3% in civil and underground engineering it increased 15.6%.

The number of employees amounted to 680, 000 at the end of March 2010. That was a decrease of 14, 000 (–2.0%) compared with March 2009.

Press release of Statistisches Bundesamt

Wiesbaden 21 May 2010

Gross domestic product

Detailed results on the gross domestic product in the 1st quarter of 2010

As reported by the Federal Statistical Office (Destatis) already in its first release of 12 May 2010, the gross domestic product (GDP) in the first quarter of 2010 rose 0.2% on the previous quarter, upon price, seasonal and calendar adjustment. At the same time, the result for the fourth quarter of 2009 was slightly corrected upwards, now also showing a 0.2% increase. Although the upward movement observed for the economy in the second quarter of 2009 (+0.4%) and the third quarter of 2009 (+0.7%) slightly slowed down, it continued despite the relatively cold and long winter.

Press release of Statistisches Bundesamt

Paris 20 May 2010

Global Economy

Brazil, India and China

Brazil, India and China are the new leaders of the global economy for at least the next five years

An analysis by Euler Hermes

Wiesbaden 12 May 2010

Insolvency

6.9% more business insolvencies in February 2010

As reported by the Federal Statistical Office (Destatis), in February 2010, German insolvency courts reported 13,487 insolvencies; 2,558 of them referred to enterprises and 8,632 to consumers. The total number of insolvencies increased 11.3% compared with February 2009, enterprise insolvencies increased 6.9% and insolvencies of consumers increased 15.9%.

In January and February 2010, 26,507 insolvencies (+6.9%) were registered, 5,105 of which were enterprise insolvencies (+5.5%). Altogether the courts registered 16,897 consumer insolvencies, which were 10.1% more than in January and February 2009.

Press release of Statistisches Bundesamt

Wiesbaden 10 May 2010

Manufacturing Sector

Turnover in manufacturing in March 2010 +2.7% seasonal adjusted on February 2010

As reported by the Federal Statistical Office (Destatis) on the basis of provisional data, the manufacturing sector saw turnover rise in real terms adjusted for seasonal fluctuations and working-day variations 2.7% in March 2010 compared with February 2010 (following a revised –0.2% in February 2010). Domestic turnover increased by 4.0%, the business with foreign customers also increased 1.2%. Sales to euro area countries were 0.5% among preceding month’s level, while sales to other countries went up by 2.6%.

Compared with the preceding year, real turnover in manufacturing showed a total increase of 8.6% in March 2010 after having been adjusted for working-day variations (after a revised +8.4% in February 2010). Increases were observed in domestic sales (+6.0%), while turnover from business with foreign customers rose by 11.7%. Among foreign transactions, sales to euro area countries increased by 3.4%, while turnover for other foreign countries ascended 19.6%.

In the first quarter 2010 the (working-day adjusted) turnover in manufacturing was 7.3% above the level of the same period of the previous year; domestic turnover rose 4.0% and foreign turnover by a total of 11.4%.

Press release of Statistisches Bundesamt

Wiesbaden 10 May 2010

German Exports

German exports in March 2010: +23.3% on March 2009

According to provisional data of the Federal Statistical Office (Destatis), Germany exported commodities to the value of EUR 85.6 billion and imported commodities to the value of EUR 68.4 billion in March 2010. Hence, German exports increased by 23.3% and imports by 18.3% in March 2010 on March 2009. Upon calendar and seasonal adjustment, exports rose by 10.7% and imports by 11.0% compared with February 2010.

The foreign trade balance showed a surplus of EUR 17.2 billion in March 2010. In March 2009, the surplus amounted to EUR 11.6 billion. Upon calendar and seasonal adjustment, the foreign trade balance recorded a surplus of EUR 13.3 billion in March 2010.

According to provisional results of the Deutsche Bundesbank, the current account of the balance of payments showed a surplus of EUR 18.0 billion in March 2010, which included the balance of services (+ EUR 0.8 billion), factor income net (+ EUR 4.0 billion), current transfers (– EUR 2.7 billion), and supplementary trade items (– EUR 1.2 billion). In March 2009, the German current account showed a surplus of EUR 12.3 billion.

In March 2010, Germany dispatched commodities to the value of EUR 51.4 billion to the Member States of the European Union (EU), while it received commodities to the value of EUR 42.9 billion from those countries. Compared with March 2009, dispatches to the EU countries increased by 16.8% and arrivals from those countries by 14.7%. Commodities to the value of EUR 35.2 billion (+15.1%) were dispatched to the euro area countries in March 2010, while the value of the commodities received from those countries was EUR 30.2 billion (+13.6%). In March 2010, commodities to the value of EUR 16.2 billion (+20.5%) were dispatched to EU countries not belonging to the euro area, while the value of the commodities which arrived from those countries was EUR 12.7 billion (+17.6%).

Exports of commodities to countries outside the European Union (third countries) amounted to EUR 34.2 billion in March 2010, while imports from those countries totalled EUR 25.5 billion. Compared with March 2009, exports to third countries increased by 34.7% and imports from those countries by 24.7%.

Press release of Statistisches Bundesamt

Wiesbaden 5 May 2010

Foreign trade

Decline in foreign trade with Greece

As reported by the Federal Statistical Office (Destatis), Germany exported commodities to the value of Euro 6.7 billion to Greece in 2009. Compared with 2008, this was a decrease of about 16.7% or Euro 1.3 billion. The commodities mainly exported were motor vehicles (Euro 1.1 billion), machines and mechanical appliances (Euro 0.9 billion), and pharmaceutical products (Euro 0.7 billion).

At Euro 1.9 billion, German imports from Greece were markedly lower than exports in 2009. However, the decline in imports (–8.4%) was not as pronounced as in exports. Germany mainly imported pharmaceutical products (Euro 0.3 billion) and clothing (Euro 0.2 billion).

Press release of Statistisches Bundesamt

Wiesbaden 4 May 2010

Retail turnover

Retail turnover in Germany in March 2010: +2.7% in real terms to March 2009

According to provisional results of the Federal Statistical Office (Destatis), retail turnover in March 2010 in Germany increased 3.9% in nominal terms and 2.7% in real terms compared with the corresponding month in the previous year. The number of days open for sale was 27 in March 2010 and 26 in March 2009.

When adjusted for calendar and seasonal variations (CENSUS-X-12-ARIMA), the March turnover was in nominal terms 1.8% and in real terms 2.4% smaller than that in February 2010.
Compared with the previous year, turnover in retail trade was in the first three months of 2010 in nominal terms equal to that (0.0%) and in real terms 0.8% smaller.

Press release of Statistisches Bundesamt

Wiesbaden 7 April 2010

Transport

Inland waterways transport declining nearly 17% in 2009

According to provisional data of the Federal Statistical Office (Destatis), goods transport on inland waterways dropped not less than 16.8% in Germany in 2009. Compared to 2008, the volume of goods carried declined by 41.2 million tonnes to 204.5 million tonnes. In the course of the year, however, a certain recovery process became visible: In November 2009, the decline on the same month a year earlier was only in the single-digit range (–9.7%), while in December an increase of just under 5% was for the first time recorded in 2009. In the previous months, the decreases had been partly higher than 25%. In making such comparisons, however, it should be noted that the results for November and December 2008 were already affected by the economic crisis.

Press release of Statistisches Bundesamt

Wiesbaden 10 March 2010

German Export

German exports in January 2010: +0.2% on January 2009

According to provisional data of the Federal Statistical Office (Destatis), Germany exported commodities to the value of Euro 63.9 billion and imported commodities to the value of Euro 56.0 billion in January 2010. Hence, German exports increased by 0.2% and imports decreased by 1.4% in January 2010 against January 2009. Compared to the previous month, the calendar and seasonally adjusted development of exports and imports showed opposite trends. While exports fell by 6.3% in January 2010 on December 2009, imports rose by 6.0%.

The foreign trade balance showed a surplus of Euro 8.0 billion in January 2010. In January 2009, the surplus amounted to Euro 7.1 billion. Upon calendar and seasonal adjustment, the foreign trade balance recorded a surplus of Euro 8.7 billion in January 2010.

Press release of Statistisches Bundesamt

Wiesbaden 9 March 2010

Insolvencies 2009

11.6% more business insolvencies in 2009

As reported by the Federal Statistical Office (Destatis), in 2009, German insolvency courts reported 162,907 insolvencies, 32,687 of them referred to enterprises and 130,220 to other debtors. Enterpriseinsolvencies increased 11.6% compared with 2008, an increase was observed in the total number of insolvencies (+5.0%) and in insolvencies of other debtors (+3.4%).

The latter group includes in particular consumers (101,102; +3.0%), individuals, for example as members of partnerships and formerly self-employed persons (26,310; +3.1%) and deceased persons' estate insolvencies (2,808; +24.5%).

In December 2009, 13,586 insolvencies (+8.1%) were registered, 2,583 of which were enterprise insolvencies (+15.5%). In addition the courts registered 8,656 consumer insolvencies, which were 6.5% more than in December 2008.

Press release of Statistisches Bundesamt

Wiesbaden 5 March 2010

Transport

Rail Transport 2009: Quantities down by –15.9%

As reported by the Federal Statistical Office (Destatis), in 2009 all German railway companies together transported 312.1 million tons of goods (–15.9% compared with 2008). In the history of railway statistics this decrease marks the highest drop on a year-to-year-comparison; the figure went down below the level of 2005 (317.3 million).

The breakdown in terms of the main transport links showed that as well goods carried abroad as goods coming from abroad decreased by 23.1%, transit traffic was concerned even by a greater plunge and dropped by 23.8%. These transport-links including services on foreign railway networks amounted to 101.4 million tons which represented a third of the whole market. National traffic (210.7 million tons) dropping by 11.9% covered the remaining share of two thirds (67.5%) of the total volume.

Press release of Statistisches Bundesamt

Wiesbaden 2 March 2010

Export Goods

Germany’s most important goods traded in 2009

As reported by the Federal Statistical Office (Destatis) on the basis of provisional data, machinery was Germany’s most important export good in 2009, accounting for 15.1% of total exports. Second were motor vehicles and parts thereof with a share of 14.9%, followed by chemical products with a share of 9.1%.

Press release of Statistisches Bundesamt

Wiesbaden 25 February 2010

Building industry

Building industry in 2009: Value of orders received down 6.6% from the previous year

As reported by the Federal Statistical Office (Destatis), the total price-adjusted value of orders received by building construction and civil and underground engineering enterprises in Germany decreased 6.6% in 2009. In building construction demand decreased 13.0% in civil and underground engineering it increased 0.1%.

Press release of Statistisches Bundesamt

Wiesbaden 9 February 2010

Export

Total exports declining 18.4% in 2009 on 2008

According to provisional data of the Federal Statistical Office (Destatis), Germany exported commodities to the value of Euro 803.2. billion and imported commodities to the value of Euro 667.1 billion in 2009. German exports in 2009 thus were 18.4% and imports 17.2% below the respective 2008 levels. This was the highest decline recorded in foreign trade in relation to both imports and exports since 1950.
As regards the world’s top exporting nations, Germany as the largest exporter was overtaken by China in 2009. According to information of the Chinese Ministry of Commerce, Chinese exports amounted to US $ 1,201.7 billion, while German exports totalled US $ 1,121.3 billion in that year.

Press release of Statistisches Bundesamt

Wiesbaden 26 January 2010

Import

Import prices in 2009: –8.6% on 2008

As reported by the Federal Statistical Office (Destatis), on an annual average in 2009, the index of import prices was down 8.6% from the previous year. This was the highest price decline since 1986 (–15.7% compared with 1985). In December 2009, it decreased by 1.0% compared with the corresponding month of the preceding year. In November and in October 2009 the annual rates of change were –5.0% and –8.1%, respectively. From November to December 2009 the index rose by 0.5%.

The index of import prices, excluding crude oil and mineral oil products, was 5.2% under the level of a year earlier.

The index of export prices decreased 2.2% on an annual average in 2009 from the previous year. In December 2009, it was down 0.4% compared with the corresponding month of the preceding year. In November and in October 2009 the annual rate of change was –1.7% and –2.6%, respectively. From November to December 2009 the index rose by 0.2%.

Press release of Statistisches Bundesamt

Wiesbaden 13 January 2010

German Economy

Germany experiencing serious recession in 2009

The German economy shrank in 2009 for the first time in six years. With –5.0%, the decline in the price-adjusted gross domestic product (GDP) was larger than ever since World War II. This is shown by first calculations of the Federal Statistical Office (Destatis). The economic slump occurred mainly in the winter half-year of 2008/2009. Over the year, there were signs that the economic development would slightly stabilise on the new, lower level. In 2008 the GDP had slightly been up by 1.3%, in 2007 by 2.5% and in 2006 even by 3.2%.

Press release of Statistisches Bundesamt

Berlin 12 January 2010

White-Collar Crime

White-Collar Crime 2010: small and medium-sized businesses underestimate the danger

More and more german companies regard white-collar crime as a danger for their business.

Press release of KPMG

More about white-collar crime on Euler Hermes website

Wiesbaden 12 January 2010

Insolvencies

15.9% more business insolvencies in October 2009

As reported by the Federal Statistical Office (Destatis), in October 2009, German insolvency courts reported 14,180 insolvencies; 2,848 of them referred to enterprises and 8,929 to consumers. The total number of insolvencies increased 6.7% compared with October 2008, enterprise insolvencies increased 15.9% and insolvencies of consumers increased 4.2%.

Press release of Statistisches Bundesamt

Wiesbaden 4 January 2010

German exports

Foreign trade in 3rd quarter of 2009: Exports down 19.0%

As reported by the Federal Statistical Office (Destatis), German exports in the third quarter of 2009 were down a total 19.0% compared with the same quarter a year earlier, reaching Euro 200.2 billion. When price-adjusted, exports decreased 16.5%.

Press release of Statistisches Bundesamt

Wiesbaden 14 December 2009

Start-Ups

1.8% more start-ups of larger businesses from January to September 2009

As reported by the Federal Statistical Office (Destatis), some 117,000 businesses were founded from January to September 2009, whose legal form and number of employees suggest some economic importance. That was 1.8% more than in the same period of the previous year.

In the first nine months of 2009, some 222,000 small businesses were founded. Hence, the number of start-ups of small businesses rose 1% on the same period a year earlier, following a 7% decrease in 2008.

Press release of Statistisches Bundesamt

Cologne 14 December 2009

Credit Inurance Companies

Credit Insurers: high number of contracts / noticible increase of claim payments

The five largest Credit Insurers keep 39.600 contracts at the end of 2009. The number of claim payments increased from 37% in 2008 to 40% in 2009. Combined Ratio expect to rise to 114%.

Press release of GDV

Wiesbaden 9 December 2009

German exports

German exports in October 2009: –15.9% on October 2008

According to provisional data of the Federal Statistical Office (Destatis), Germany exported commodities to the value of Euro 74.6 billion and imported commodities to the value of Euro 61.0 billion in October 2009. Hence, German exports decreased by 15.9% and imports by 15.3% in October 2009 against October 2008. Compared to the previous month, the calendar and seasonally adjusted development of exports and imports showed different trends. While exports climbed 2.5% on September 2009, imports declined 2.4%.

The foreign trade balance showed a surplus of Euro 13.6 billion in October 2009. In October 2008, the surplus amounted to Euro 16.7 billion. Upon calendar and seasonal adjustment, the foreign trade balance recorded a surplus of Euro 12.9 billion in October 2009.

According to provisional results of the Deutsche Bundesbank, the current account of the balance of payments showed a surplus of Euro 11.0 billion in October 2009, which included the balance of services (– Euro 1.4 billion), factor income net (+ Euro 4.8 billion), current transfers (– Euro 5.2 billion), and supplementary trade items (– Euro 0.7 billion). In October 2008, the German current account showed a surplus of Euro 14.9 billion.

Press release of Statistisches Bundesamt

Wiesbaden 8 December 2009

Crafts Sector

5.1% less turnover in the crafts sector in the third quarter of 2009

As reported by the Federal Statistical Office (Destatis), the turnover in crafts with compulsory approval was down 5.1% in the third quarter of 2009 compared to the third quarter of 2008. At the end of September 2009 the number of persons employed by crafts entrepreneurs was down 2.1% compared to the level a year earlier.

Press release of Statistisches Bundesamt

Wiesbaden 1 December 2009

German foreign trade

2004 - 2008: German exports to Brazil boosted

German exports doubled between 2004 and 2008

Press release of Statistisches Bundesamt

Country Rating Brazil

Hamburg 17 November 2009

Insolvency Forecast 2010

Insolvencies: Record level of financial losses

2009 the number of insolvencies will increase to 33.800 (plus 15%).

Wiesbaden 6 November 2009

Insolvencies

12.3% more business insolvencies in August 2009

As reported by the Federal Statistical Office (Destatis), in August 2009, German insolvency courts reported 12,874 insolvencies; 2,619 of them referred to enterprises. The total number of enterprise insolvencies increased 12.3% compared with August 2008.

Go to press release of Federal Office of Statistics

Wiesbaden 22 September 2009

German Exports in 2009

Federal Office of Statistics (Statistisches Bundesamt), Wiesbaden, publishes figures on German Exports in 2009

German export in h1 2009 reduce of 23.5%.

Go to press release of Federal Office of Statistics

Berlin 1 September 2009

Top Up Cover

Government supplement to credit insurance

Press releases of the Ministry of Economics and Technology (BMWI) and the German Insurance Association (GDV).

Go to BMWI Press Release

Go to GDV Press Release