Germany’s BGA wholesalers and exporters body raised its forecast for export growth for this year. They said that demand from Europe and the United States would offset weaker emerging export markets and any negative impact from Volkswagen’s emissions scandal.
The BGA said on Tuesday it expects exports to rise by up to 6 percent this year and imports to increase by 4 percent.
“Both exports and imports will hit new records,” said the BGA in a statement. Growth would continue thanks to robust demand from Europe and the United States, which is expected to more than compensate for a slowdown in China.