
Germany: Exports Drive Economic Growth
In Germany there is no Great Recession. Instead, Germany is experiencing a Great Revival—and much of the rest of the world is better for it.
Spurred by growth in its exports, the European Commission estimates Germany’s gross domestic product grew 3.4 percent in the first six months of 2010, soaring past the rest of the eurozone’s mere 1.7 percent average increase. A closer examination of Germany’s success so far shows why its economy is a rising star.
Germany’s leadership position in the European Union has been greatly enhanced since the financial crisis spread from America to European banks. When Greece’s debt-laden economy was crashing down, it was Germany that led the bailout to keep Greece’s economy afloat. It was Germany whose decision and desire it was to impose the harsh austerity measures on Greece and other eurozone nations, such as Italy, Spain and Portugal, whose economies were facing the same situation.
Germany’s wish became Europe’s command when France and the rest of the eurozone followed Germany’s lead.
The EU Commission’s report just confirms what is already apparent: that Germany dominates Europe’s economy. This economic achievement was built in large part on its export growth. Exports account for roughly 45 percent of Germany’s gdp. Its exports grew an astounding 17.1 percent in the first half of 2010 as compared to the same period in 2009. As Germany’s economy continues to outpace the rest of the eurozone, Germany’s traditional position as the powerhouse of Europe will continue to revive.
Interestingly, Germany’s export boom hasn’t benefited the rest of Europe as much as the eurozone would have hoped.
Germany’s exports to non-EU countries, however, have gone through the roof. Exports to Brazil skyrocketed, increasing by 61.4 percent over last year, to China by 55.5 percent and to Turkey by 38.8 percent. And it wasn’t just exports; Germany has increased its imports from developing nations as well, especially China. In fact, demand for lower-priced goods has grown so much that China has replaced the Netherlands as Germany’s largest supplier of goods.
“Germany’s robust 2010 export growth and overall projected economic growth are unmatched in the eurozone,” Stratfor reported last week. In fact, the German economy is so healthy, Stratfor says it could upset other eurozone states. “When paired with the buoyant demand from the developing world (especially from China), Germany’s economic success at a time of stagnation and German-supported austerity measures across the rest of Europe could create political fissures …” (September 15).
The success of Germany’s economy and its growing linkage with many non-European states is not insignificant: Bible prophecies in Revelation 17 and 18 reveal that in the end time a German-led European empire will become the nucleus of world trade and the global economy.
Revelation 18:3 says that the influence and wealth of this giant German-led economic power is so great, all the “merchants of the earth are waxed rich through the abundance of her delicacies.”
As it turns out, the global financial crisis is furnishing Germany with the opportunity to not only restore dominance over Europe, but expand its reach abroad. Watch Germany closely: Its trade with developing nations is only the beginning of a new economic system that will arrive shortly.
The Trumpet has long forecast this very trend. If you want to know in advance where Germany’s revival is leading, read our free booklet Germany and the Holy Roman Empire.