ifo Export Expectations Fall Slightly (May 2021)
The excellent mood among German exporters has suffered a slight setback. In May, the ifo Export Expectations in manufacturing fell to 23.0 points from 23.9 points in April. However, Germany’s export industry remains a mainstay of buoyant industrial activity.
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Export expectations in the automotive industry took a clear dip. As things stand, hardly any new orders from abroad are expected. The situation is similar in the food industry, and the textile and clothing industry is facing difficulties in the international market as well. However, the export market continues to prosper for the electrical and electronics industries, and for manufacturers of machinery and equipment. The chemical industry, too, is optimistic about the months ahead. After experiencing some difficult months, the furniture industry now is expecting to see a significant increase in exports.
Clemens Fuest
President of the ifo Institute
ifo Export Expectations for Manufacturing
(Balances, seasonally adjusted)
| 05/20 | 06/20 | 07/20 | 08/20 | 09/20 | 10/20 | 11/20 | 12/20 | 01/21 | 02/21 | 03/21 | 04/21 | 05/21 | |
| Expectations |
Source: ifo Business Survey.
© ifo Institute
