Empowering youth bedrock for sustainable giving in frontline: Frontline Heroes Office
BERLIN (Reuters) -German exporters have lost significant ground in global markets since 2021 due mainly to a broad-based deterioration in the country's competitiveness, the Bundesbank said on Monday.
According to the Bundesbank's monthly report, more than three-quarters of Germany's export market share losses between 2021 and 2023 resulted from worsening supply-side conditions that left domestic exporters less competitive internationally.
The report found that the decline was widespread across sectors and comparatively severe by international standards, signalling deep-rooted structural challenges for Europe's largest economy.
Industries such as mechanical engineering, electrical equipment and energy-intensive sectors like chemicals were among the hardest hit, according to the report.
The study also pointed to the impact of rising energy prices and persistent supply chain disruptions, which weighed heavily on German exporters during the 2021-to-2023 period covered by the report.
The report called for urgent reforms to improve Germany's business climate, including measures to boost incentives to work, reduce barriers for skilled migrants, cut red tape and enhance tax breaks for private investment.
The findings come after the German government unveiled a series of measures aimed at boosting investment and innovation, but analysts warn that more comprehensive reforms may be necessary to restore the country's competitive edge on the world stage.
(Reporting by Maria Martinez and Klaus Lauer, editing by Rachel More)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
32 minutes ago
- Al Etihad
Chinese firms rush to buy Nvidia AI chips as sales set to resume
15 July 2025 14:26 BEIJING (REUTERS) Chinese firms are rushing to buy Nvidia's H20 artificial intelligence chips, two sources told Reuters, as the company said it planned to resume sales to the mainland days after its CEO met United States President Donald AI chips have been a key focus of US export controls. The US-listed company has said the curbs would cut its revenue by $15 world's most valuable firm is filing applications with the US government to resume sales to China of the H20 graphics processing unit (GPU), and expects to get the licences soon, Nvidia said in a statement."The U.S. government has assured Nvidia that licences will be granted, and Nvidia hopes to start deliveries soon," said the company, whose chief executive, Jensen Huang, is visiting Beijing and set to speak at an event on added that internet giants ByteDance and Tencent are in the process of submitting shares jumped 5% in premarket trading. Rival AI chipmaker AMD, which has forecast a $1.5 billion revenue hit this year due to US export curbs on China, rose more than 3%.The H20 chip was developed specifically for the Chinese market after US export curbs imposed on national security grounds in late 2023. Nvidia also announced the development of a new AI chip designed specifically for China, called the RTX Pro GPU. The company described it as "fully compliant" with US export controls, and suitable for digital twin AI applications in sectors, such as smart factories and logistics. China generated $17 billion in revenue for Nvidia in the fiscal year ending January 26, or 13% of total sales, based on its latest annual report.
Dubai Eye
2 hours ago
- Dubai Eye
Tesla to sell Model Y cars in India, starting at $69,770
Tech entrepreneur Elon Musk's Tesla is selling its Model Y cars in India starting at about $69,770 (AED 256,230), its website showed on Tuesday, as the electric car maker prepared to open its first showroom in the financial capital of Mumbai. India is the world's third largest car market, although electric vehicles comprise a very small slice, as concerns about easy accessibility of charging infrastructure deter many affluent buyers from going electric. As Tesla gears up for busy roads still ruled by cars fuelled by diesel and petrol, it will go head-to-head primarily with German luxury giants like BMW and Mercedes-Benz in the premium EV segment. Among India's mass-market players are Tata Motors and Mahindra. Police guarded the showroom, with the brand's name etched in black against a stark white wall, where the car, draped in black and grey covers was partially visible on Tuesday through the glass in a gated office complex. With access tightly controlled, few onlookers or fans lingered near the premises. Musk has long eyed an entry in India, the world's most populous country and where the rich are splurging on everything from apartments to watches and jewellery, even bathrooms. India aims to boost the share of EVs in domestic car sales to 30 per cent by 2030, from 4 per cent now, offering tax cuts to foreign automakers committing to some domestic production. That proved to have limited appeal to Musk, although the efforts were partly designed to lure Tesla. Tesla's opening coincides with a pre-booking campaign in India launched by Vinfast for its electric sports utility vehicles VF7 and VF6. Tesla is selling the Model Y rear-wheel drive for 6 million rupees ($70,000) in cash, and its Model Y long-range rear-wheel drive at 6.8 million ($79,000). The US selling price starts from $44,990, while in China it is 263,500 yuan ($36,700) and in Germany 45,970 euros ($53,700).
ARN News Center
3 hours ago
- ARN News Center
Tesla to sell Model Y cars in India, starting at $69,770
Tech entrepreneur Elon Musk's Tesla is selling its Model Y cars in India starting at about $69,770 (AED 256,230), its website showed on Tuesday, as the electric car maker prepared to open its first showroom in the financial capital of Mumbai. India is the world's third largest car market, although electric vehicles comprise a very small slice, as concerns about easy accessibility of charging infrastructure deter many affluent buyers from going electric. As Tesla gears up for busy roads still ruled by cars fuelled by diesel and petrol, it will go head-to-head primarily with German luxury giants like BMW and Mercedes-Benz in the premium EV segment. Among India's mass-market players are Tata Motors and Mahindra. Police guarded the showroom, with the brand's name etched in black against a stark white wall, where the car, draped in black and grey covers was partially visible on Tuesday through the glass in a gated office complex. With access tightly controlled, few onlookers or fans lingered near the premises. Musk has long eyed an entry in India, the world's most populous country and where the rich are splurging on everything from apartments to watches and jewellery, even bathrooms. India aims to boost the share of EVs in domestic car sales to 30 per cent by 2030, from 4 per cent now, offering tax cuts to foreign automakers committing to some domestic production. That proved to have limited appeal to Musk, although the efforts were partly designed to lure Tesla. Tesla's opening coincides with a pre-booking campaign in India launched by Vinfast for its electric sports utility vehicles VF7 and VF6. Tesla is selling the Model Y rear-wheel drive for 6 million rupees ($70,000) in cash, and its Model Y long-range rear-wheel drive at 6.8 million ($79,000). The US selling price starts from $44,990, while in China it is 263,500 yuan ($36,700) and in Germany 45,970 euros ($53,700).
