“When the competitiveness of the German economy decreases, exporters lose their market share,” the BundesBank said.
The German Central Bank (BundesBank) reported that German exporters have lost a significant market share in the global market due to their weak positions in international competition. The BundesBank's report to the economy has been published. The report shows that German exporters have lost their global market share since 2021, with a reduction in the competitiveness of the economy in Germany. “German export market has decreased since 2017, especially since 2021.” The expression has been used. In the BundesBank's report, it has been recognized that the ability to compete in many fields and more than three quarters of the country's export losses between the period from 2021 to 2023 is due to the conditions to provide conditions for domestic exporters less competitive in the international arena. “They include changing demographic, lack of qualified workers, increasing labor costs and increasing bureaucracy in the report. Reports, mechanical engineering, electrical engineering, chemistry, such as the active fields of energy, the most contributed fields in the situation. Competition more than China The report shows that Germany has been worse than other developed economies in the global market and China begins to Germany companies more competitors. The report calls for an emergency reform such as increasing taxes and decreases for working and private investment incentives to improve the German business environment, and reducing obstacles, bureaucracy and energy costs to skilled immigrants.