German exports down more than 12% this year due to pandemic -BGA

BERLIN (Reuters) – Germany’s BGA trade association said on Tuesday it expects exports to shrink by at least 12% this year as demand from the United States and Britain collapsed due to the coronavirus pandemic.

“The COVID-19 pandemic has pushed us back five years when it comes to exports – and at the same time it has catapulted us five years into the future in terms of digitalisation,” BGA President Anton Boerner said.