German exports, the engine for economic recovery, will rise 5 percent this year, while imports will grow 3.5 percent, a weak rebound from the dramatic 14.5 percent drop in 1993, the German Chamber of Industry and Commerce said.
Growth in the European Union, Germany's largest trading partner, and economic expansion in the Asian-Pacific area as well as in North and South America are giving Germany's export industry a big boost, said Franz Schoser, the chamber's managing director."The outlook is a little better, but the weakness in Germany remains low investment activity," he said at the presentation of the chamber's annual survey of its 54 offices abroad.
He said the economy was showing "positive tendencies," predicting that Germany's 1994 gross domestic product would expand "just short of 2 percent."
But, "The economy has not fully recovered yet," Mr. Schoser said at a news conference.