Three Quarters Of All German Exports Going To Europe

Correction: For 2009 the number is 63% ......I´m pretty sure the "experts" have figured this "minor" fact into their as usual conservative "Reported Earnings vs Operating Earnings Formula" for German companies ( and with almost $265 Billion in goodwill on the balance sheets of German listed companies this "magic" technique is more important than ever....) ....... Even while several "German Titans" are tied to global growth ( in my mind not sustainable ) i think it is important to keep the strong dependency on Europe in mind when very soon the same guys will tell us that the weak € will rescue Germany/Europe etc..... UPDATE: Spain’s woes and Germany’s export model could mean double dip Edward Harrison

KORREKTUR: Für 2009 beträgt der Anteil 63%..... Bin mir ziemlich sicher das die "Experten" die extrem starke Abhängigkiet von Europa ( UPDATE : Deutsche Exporteure erleiden herben Rückschlag ) wie gewohnt in Ihre extrem "konservativen" "Reported Earnings vs Operating Earnings Formula" miteinbezogen haben ( und bei schlappen 189 Mrd € in Goodwill die in DAX,MDAX und TECDAX Bilanzen schlummern ist diese "magische Formel" wichtiger denn je.... ) . Selbst wenn einzelne deutsche Firmen überdurchschnittlich vom globalen Wachstum ( welches meiner Meinung nicht nachhaltig ist ) profitieren kann man gespannt sein wie lange es dauert das trotz extremer Euroabhängigkeit der schwache € als Kaufargument "ausgepackt" wird.....Selbstredend von denselben "Experten"..... UPDATE: Spain’s woes and Germany’s export model could mean double dip Edward Harrison

Three quarters of all German exports going to Europe STATIS

WIESBADEN – As reported by the Federal Statistical Office (Destatis) on the basis of provisional data, 75.0% (EUR 746.6 billion) of all goods exported from Germany in 2008 (to the value of EUR 994.9 billion) went to European countries.

The second largest sales market for German goods was Asia with a share of 11.8% (EUR 117.2 billion), followed by America with a share of 10.2% (EUR 102.0 billion).

Only 2.0% (EUR 19.7 billion) of all German exports were sold to Africa and 0.8% (EUR 7.6 billion) to Australia and Oceania.

Compared to Tony Dwyer with his unique "playbook" the DAX estimates indeed look muted. ;-)

Verglichen mit dem US "Experten" Tony Dwyer sehen allerdings die Prognosen für den DAX noch moderat aus.....;-)

H/T TGTGT

I just couldn´t resist to post this quote........

Konnte mir einfach nicht verkneifen das nachfolgende Zitat zu posten.......

BofA Merrill Lynch Fund Manager Survey October

"Europe is emerging phoenix-like from the ashes as confidence in its banks boosts overall confidence in European equities," said Gary Baker, head of European equity strategy at BofA Merrill Lynch Global Research.

:-) !