It feels like 2021 seamlessly followed the crisis year of 2020. Challenges such as supply bottlenecks and increased intermediate product prices continue to shape overall economic development. However, a look at the statistics shows that 2021 went significantly better for Thuringia's export sector than the previous year.
According to preliminary figures from the Federal Statistical Office, Thuringia increased its export volume by over 17.5% in the first three quarters of 2021 compared to the same period of the previous year, while imports rose by 17%. These figures are remarkable, even when taking into account the sharply increased inflation rate. As a reminder, Thuringia's export volume had plummeted by around 5.7% in the entire year of 2020.
