Germany has always imported raw materials and intermediate goods from other countries, processed them into end products and exported them all over the world. This model has helped Germany achieve great prosperity, but has come under scrutiny since the outbreak of the Covid-19 pandemic and the recent political upheavals. Against this backdrop, the new HWWI...
Germany has always imported raw materials and intermediate goods from other countries, processed them into end products and exported them all over the world. This model has helped Germany achieve great prosperity, but has come under scrutiny since the outbreak of the Covid-19 pandemic and the recent political upheavals. Against this backdrop, the new HWWI study provides a systematic overview of the development of Hamburg’s foreign trade before and since the start of the current crises. The focus is on analyzing the political risks of Hamburg’s foreign trade relations. While Hamburg’s exports are quite well diversified, there is considerable dependence on autocratic states on the import side. Instead of discontinuing foreign trade with such states and thus permanently reducing prosperity, the political risks should be reduced through better diversification, especially on the import side.
