COVID-19 impacts perspective of German companies abroad

In the spring and fall of each year, the German Chambers of Commerce Abroad (AHK) publish the report “AHK World Business Outlook”, which aggregates the business perspectives and perception of the local economic situation among the companies that answer the survey.

The spring 2020 report contemplates 4,000 companies and already reflects the impact that the restrictions caused by COVID have had on the world economy.

Thus, about 80% of the surveyed companies believe that the pandemic will lead to a drop in their revenues, while two thirds foresee a deterioration in the economic situation of the countries and markets in which they operate. However, 10% believe that the situation may improve.

In general, German companies operating in Europe and the United States were more pessimistic than those operating in China, which may be related to the fact that the pandemic had already peaked in that country at the time of the survey.

According to Volker Treier, Director of Foreign Trade at the Association of German Chambers of Industry and Commerce (DIHK), the economic consequences are expected to last longer than the COVID pandemic itself.

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