The changes in the external economic environment resulting from the coronavirus crisis of 2020 and the impact of the war in Ukraine in 2022 make it necessary to take stock of Germany’s linkages in trade and value chains. Its economy is known to be closely integrated into global trade. This is also reflected in a disproportionately high share of trade on value-added basis compared with other G20 countries. With respect to Germany’s global value chains, foreign value added is nearly as important for its own exports as its domestic value added is for the exports of other countries. This offers the potential to harness the advantages of the international division of labour and to generate gains from trade but it also makes the country vulnerable to adverse external shocks.

Germany’s close integration into global trade and value chains(PDF, 353 KB, accessible)

Further information on Germany's strong link to the global economy