2023: German food industry with decline in sales
Bureaucracy and economic uncertainties as the main reasons
The Federation of German Food and Drink Industries (BVE) published its annual figures for 2023 today. Despite considerable challenges, the German food industry was once again able to demonstrate its stability and adaptability.
Economic developments in 2023
The year 2023 was characterized by geopolitical crises and economic uncertainty. Consumers' real wages fell due to high inflation, which led to price-sensitive demand. The industry's total turnover reached 232.6 billion euros, which corresponds to a price-adjusted loss in turnover of 1.6% compared to the previous year. Exports fell by 2.5% on a price-adjusted basis, while domestic sales declined by 1.1%. In nominal terms, foreign sales rose by 4.3% and domestic sales by 7.7%.
Food industry: an indispensable pillar of the German economy
Christoph Minhoff, Managing Director of the BVE, emphasized the importance of the industry for the German economy: "The food industry is an indispensable pillar of the German economy and secures jobs and the supply of high-quality food to the population. However, the constantly increasing bureaucratic requirements are massively jeopardizing the attractiveness of Germany as a business location and our competitiveness. It is essential that we preserve entrepreneurial freedom and reduce regulations to a sensible level in order to remain successful and innovative."
Prospects for the future
The BVE is calling on politicians to take measures to safeguard entrepreneurial freedom, a strong SME sector, free trade and a reduction in bureaucracy. It is also essential to create an investment and innovation-friendly climate in order to ensure the long-term competitiveness and sustainability of the industry.
Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.
Other news from the department business & finance
