Since the beginning of the pandemic, export losses have been recorded worldwide. Germany is also affected by record declines in exports. The months of March and April in particular record drastic slumps.
Biggest decline in exports since foreign trade statistics began in 1950
In March 2020, goods worth 108.9 billion euros were exported. This represents a decrease of 7.9 percent compared to the same month last year. In April 2020, exports even reported a loss of 31.1 percent compared with March 2019, according to the Federal Statistical Office. For Germany, this represents the largest year-on-year decline in a month since foreign trade statistics began in 1950.
The reason for the enormous drop in exports in Germany is the Corona crisis. The high international interdependence of the economy is becoming a disaster for many countries. In addition, interrupted logistics chains and pandemic-related export restrictions and bans hinder German exports.
eDOC AS: "Set up supply chains for the time after the Corona pandemic!"
The exceptional situation of the Corona crisis has posed a great challenge for Germany. If one wants to ensure domestic security, bans and restrictions come into force. This includes the implementing regulation (EU) 2020/402 of 14 March, which prohibits the export of personal protective equipment by requiring a permission with a limited validity period of six weeks.
The regulation was not extended after the validity period expired on April 23. Temporary restrictions and bans always pose a great challenge, says Stephan Klein, Head of Customs & Export at eDOC AS. It is always possible to introduce short-term changes in export control law. Ultimately, it is important at this point to define responsibility within the company - or to get help.