German ForeX Trade
Posted by: admin / Category: Germany Trade
competitive export industry is helping the German economy out of a three-year period of near stagnation. In 2004, an impressive 10% growth in exports and 8 % growth in imports from the previous year were seen.
Main exports from Germany are motor vehicles trailers and semi-trailers, electrical machinery, chemicals and chemicals products. European countries remain the top-trading partner of Germany having 2/3 shares in Germany’s total trade. Among others countries US, China, Japan, South Africa, Canada, Brazil, Australia and South Korea are the other countries, with which Germany has substantial trade links.
After losing in the WW-II, Germany started to rebuild its economy and indeed enjoyed remarkable economic success, and this “economic miracle” made it the third-largest economy in the world after the US and Japan. The government adopted prudent fiscal and monetary policy. Also external support in the form of Marshall Plan aid, good relations between social partners, and the focus on reconstruction contributed to its rejuvenation after the devastation of the Second World War. Germany followed an economic policy with the idea of making a social market economy. This concept demanded that market forces govern the economy, with the state retaining a role in improving the fate of the underprivileged and correcting market imperfections.
Germany had a flourishing economy, which however, was forced into a decline curve after the unification of East and West Germany in 1990. It was the differences between the economic systems of the two portions that caused the economy of East Germany to deteriorate.
Challenges Facing Germany
This accompanied with the country’s ageing population and high rate of unemployment has pushed social security outlays to a level exceeding contributions from workers. In the year 2002, the economic growth fell short of 1%and in 2003 no growth was observed.
Domestic demand has been declining over the last couple of years, as poor labour market performance has weighed on consumer sentiment and business confidence. The labour market still suffers from weak economic growth and distorted incentives, with both contributing to problems in taking up work and providing employment. However, corporate restructuring and growing capital markets are laying the foundations to allow Germany to meet the long-term challenges of European economic integration and globalization.
The major challenges are to connect
iscal consolidation to public sector reform and to increase the capacity of the economy to create employment and increase productivity growth. Further, there remains considerable scope to foster the creation of new enterprises and widen product market competition, thereby also maintaining the strong innovative capacity of the economy.
Eliminating entry barriers and making more progress in reducing administrative overheads should further strengthen competition in product markets. The part of the large German procurement market which falls below EU thresholds should be opened to greater competition, requiring among other things making transparent the multitude of regulations on lower levels of government.
Furthermore, labour markets should be made more flexible and the scope for competition should be increased. Also, Reducing administrative dullness, would improve the capacity of the German economy to innovate and contribute to higher potential growth.
competitive export industry is helping the German economy out of a three-year period of near stagnation. In 2004, an impressive 10% growth in exports and 8 % growth in imports from the previous year were seen.
After losing in the WW-II, Germany started to rebuild its economy and indeed enjoyed remarkable economic success, and this “economic miracle” made it the third-largest economy in the world after the US and Japan. The government adopted prudent fiscal and monetary policy. Also external support in the form of Marshall Plan aid, good relations between social partners, and the focus on reconstruction contributed to its rejuvenation after the devastation of the Second World War. Germany followed an economic policy with the idea of making a social market economy. This concept demanded that market forces govern the economy, with the state retaining a role in improving the fate of the underprivileged and correcting market imperfections.
Germany had a flourishing economy, which however, was forced into a decline curve after the unification of East and West Germany in 1990. It was the differences between the economic systems of the two portions that caused the economy of East Germany to deteriorate.
Challenges Facing GermanyThis accompanied with the country’s ageing population and high rate of unemployment has pushed social security outlays to a level exceeding contributions from workers. In the year 2002, the economic growth fell short of 1%and in 2003 no growth was observed.
Domestic demand has been declining over the last couple of years, as poor labour market performance has weighed on consumer sentiment and business confidence. The labour market still suffers from weak economic growth and distorted incentives, with both contributing to problems in taking up work and providing employment. However, corporate restructuring and growing capital markets are laying the foundations to allow Germany to meet the long-term challenges of European economic integration and globalization.
The major challenges are to connect
iscal consolidation to public sector reform and to increase the capacity of the economy to create employment and increase productivity growth. Further, there remains considerable scope to foster the creation of new enterprises and widen product market competition, thereby also maintaining the strong innovative capacity of the economy.
Eliminating entry barriers and making more progress in reducing administrative overheads should further strengthen competition in product markets. The part of the large German procurement market which falls below EU thresholds should be opened to greater competition, requiring among other things making transparent the multitude of regulations on lower levels of government.
Furthermore, labour markets should be made more flexible and the scope for competition should be increased. Also, Reducing administrative dullness, would improve the capacity of the German economy to innovate and contribute to higher potential growth.
France Trading
The economy of France has been carefully planned to provide support to international trade with a number of important products and commodities. Globally, the country holds an important position as the third largest trader in the European Union after Germany and the United Kingdom.
France also exports a number of valuable commodities including machinery and transportation equipment, aircraft, plastics, chemicals, pharmaceuticals, iron, steel, consumer products, petroleum and cars & vehicles. A major part of this foreign trade is carried out with European partners including Germany, UK, Spain and Italy.
France is the second largest exporter in the world of both services and farm products. It is justly famous for its cheese, wine, and wheat, being the world’s leading supplier of quality produce in these areas.
The country is one of the major agricultural powers with almost 25% of the total agricultural products of the European Union being produced there. The contribution of the agricultural sector to the country’s GDP is almost 2.5%. The French government provides considerable subsidies to its agricultural sector so that it may continue to grow and contribute to the country’s GDP, a development that will further ensure increased export activities.
The manufacturing industry is also a key exporter, contributing nearly 27% to GDP. France’s phenomenal export growth has been aided by structural reforms initiated by the government that promote every aspect of foreign trade. It is one of the five largest global exporters of durables.
According to the CIA World Factbook, France
exported US $490 billion worth of goods and services in 2006. Its main export partners as of 2005 were:
Primary imports included cars and vehicles, machinery and equipment, crude oil, plastics, chemicals and aircraft. As of 2005, it imported from:
France also exports a number of valuable commodities including machinery and transportation equipment, aircraft, plastics, chemicals, pharmaceuticals, iron, steel, consumer products, petroleum and cars & vehicles. A major part of this foreign trade is carried out with European partners including Germany, UK, Spain and Italy.
France is the second largest exporter in the world of both services and farm products. It is justly famous for its cheese, wine, and wheat, being the world’s leading supplier of quality produce in these areas.
The country is one of the major agricultural powers with almost 25% of the total agricultural products of the European Union being produced there. The contribution of the agricultural sector to the country’s GDP is almost 2.5%. The French government provides considerable subsidies to its agricultural sector so that it may continue to grow and contribute to the country’s GDP, a development that will further ensure increased export activities.
The manufacturing industry is also a key exporter, contributing nearly 27% to GDP. France’s phenomenal export growth has been aided by structural reforms initiated by the government that promote every aspect of foreign trade. It is one of the five largest global exporters of durables.
According to the CIA World Factbook, France
exported US $490 billion worth of goods and services in 2006. Its main export partners as of 2005 were:
- Germany (14.7%)
- Spain (9.6%)
- UK (8.3%)
- US (7.2%)
- Belgium (7.1%)
Primary imports included cars and vehicles, machinery and equipment, crude oil, plastics, chemicals and aircraft. As of 2005, it imported from:
- Germany (18.9%)
- Belgium (10.7%)
- Italy (8.2%)
- Spain (7%)
- Netherlands (6.5%)
- UK (5.9%)
- US (5.1%)
- France imports different commodities from other countries. Some of the major import partners are represented in the chart (2005): In 2005, France imported goods worth US$471.36 billion and the exported goods worth US$439.22 billion. Within this same period, the services sector contributed a huge portion of its import and export activities.
Dubai Foreign Trade
Dubai Foreign TradeDubai foreign trade and global economic policies
Despite the economic troubles that hit global economies in late 2008, Dubai realized a record amount of non-oil exports that year, up 38% from 2007.
India remained Dubai’s largest bilateral trade partner, which includes imports and exports (including those through free zones) and re-exports.
From 2001 to 2005, the government of Dubai invested nearly AED 11 billion in developmental projects. These investments had a considerable positive effect on the Emirate’s foreign trade. Specifically, the total foreign trade of Dubai rose from AED 112 to 280 billion between 2001 and 2005, for an increas of nearly 150%. In that same period, foreign trade relative to Dubai’s GDP increased from 170% to 200%.
The fact that Dubai is both a Middle Eastern trade hub and a free port makes it ideal for foreign trade. Its world-class, large airport, and massive sea port facilitate the majority of the imports and exports. Although the quality of the Emirate’s transportation infrastructure is excellent, the local government is making many improvements in these areas with the expectation that foreign trade will continue to improve and increase.
The majority of cargo coming in and out of Dubai is by sea. In 2005 this segment represented 54% of foreign trade at AED 152 billion. Air transport claimed 43% of imports and export then, leaving only 3% of international trade by land.
Dubai Exports
Economically, Dubai is most famous for its oil and gas production, which only makes up less than 6% of the state’s economy, and only 2% of the UAE’s economy. Dubai contributes 82.2% of the UAE’s non-oil exports.
The non-oil exports that come from Dubai are mainly traditional products and commodities and manufactured items. The traditional producs include things such as dried and frozen fish, dates, hides, and scrap metals. Most of these exports go to other Gulf States, India, Pakistan, and Sri Lanka. This sector is minor compared to the manufacturing exports.
The manufactured products that Dubai exports include liquefied gase, clothing, cement, electric cables and aluminum ingots. The majority of the importers of these goods are Japan, India, China, Taiwan, and the United States.
Since the early 1980s, Dubai has seen a tremendous rise in exports and overall trade, much due to its strategic placement on the Arabian Gulf, solid and modern infrastructure, and a diverse industrial and economic foundation.
This is exlempified by the Jebel Ali Free Zone with its focus on heavy industry. Its diverse industrial framework is also seen in medium and small manufacturing industries which produce so much that the local needs are surpassed and exports become vialble.
Iran is the Emirate’s largest export destination through free-zone trade. Saudia Arabia and India are second and third.
Dubai Imports
Dubai imports a tremendous amount of goods – more than two-thirds of all UAE needs, as well as items which are re-exported. In 1999, Dubai’s percentage of imports among the Emirates was 73.8. These goods include all types of capital, consumable, and intermediate products.
China is Dubai’s top partner in imports and second overall trade partner. In 1999, Dubai had 171 importing partners. The United States, China, Japan, the United Kingdom, Germany, Italy, Taiwan, India, South Korea and France comprised 71% of the state’s imports in 1999.
The amount of imports are a good barometer of how the commercial activity in both Dubai and the entire UAE is faring.
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