German export outlook improves in Nov. despite uncertainty over trump’s trade policies

The sentiment in Germany’s export sector experienced a modest improvement in November as the ifo Export Expectations index rose to -5.9 points, up from -6.5 in October.

Klaus Wohlrabe, Head of Surveys at ifo, noted that while uncertainty lingers, exporters are cautiously optimistic, partly due to a strong US dollar following the election. “Companies are waiting to see what trade policies Trump will implement,” Wohlrabe said.

The metals industry continues to face the steepest export declines, while the automotive sector is bracing for reductions, albeit less severe than in October.

Mechanical engineering remains in a slight downturn, while the chemical industry shows mixed prospects. Food and beverage manufacturers lead the pack with expectations of export growth.

Despite the cautious outlook, Germany’s exporters are hoping to leverage favourable currency conditions to navigate global challenges.

Attribution: ifo

Subediting: Y.Yasser