The aerospace industry trade balance in Germany displayed significant volatility from 2013 to 2023. Following a peak value of $23.17 billion in 2019, the trade balance saw a major decline during 2020 and 2021 due to the impacts of the COVID-19 pandemic, dropping to $12.66 billion and $9.87 billion respectively. A notable resurgence occurred in 2022 with an impressive increase of 120.48%, leading to a value of $21.77 billion. By 2023, the trade balance stood at $24.7 billion, a 13.47% year-on-year increase.
Over the next five years, the trade balance is forecasted to grow at a moderate Compound Annual Growth Rate (CAGR) of 2.21%, resulting in a projected balance of $28.39 billion by 2028. This represents an 11.54% growth rate over this period.
Future trends to watch for include:
- The integration of advanced technologies such as electric propulsion and autonomous flight systems.
- Increased investment in sustainable aviation and decarbonization initiatives.
- Potential geopolitical factors impacting supply chains and trade regulations.
- Continued recovery and expansion of global air travel post-pandemic.