ifo Export Expectations Improved Noticeably (January 2021)
Sentiment among German exporters has become considerably brighter. In January, the ifo Export Expectations in manufacturing rose from 1.9 points to 6.0 points. This is its highest level since October. Clarity on Brexit and the US presidency, a robust industrial economy, and the start of vaccination campaigns worldwide led to cautious optimism in the German export sector.
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Manufacturers of computers and electrical equipment expect to see major increases in exports. Companies in mechanical engineering and the chemical industry are also confident about their future exports. Expectations among food and beverage manufacturers also saw a marked recovery. They currently assume their export business will hold steady. The international market is still difficult for Germany’s clothing industry. Furniture manufacturers also expect their international sales to decline.
Clemens Fuest
President of the ifo Institute
ifo Export Expectations for Manufacturing
(Balances, seasonally adjusted)
| 01/20 | 02/20 | 03/20 | 04/20 | 05/20 | 06/20 | 07/20 | 08/20 | 09/20 | 10/20 | 11/20 | 12/20 | 01/21 | |
| Expectations |
Source: ifo Business Survey.
© ifo Institute
