0729 GMT February 25, 2020
"For our economy, with its strong industrial core, this is a huge challenge," DIHK President Eric Schweitzer said when presenting the association's latest business sentiment survey among more than 28,000 managers, Reuters reported.
DIHK said it expects Germany's annual export growth to slow to 0.3 percent this year from 2.1 percent in 2018, adding that exports are likely to shrink by 0.5 percent next year.
"Since the financial crisis of 2008/2009, the DIHK has not received such pessimistic replies from the companies," Schweitzer said.
He pointed out that Germany's average export growth rate was normally around 5.5 percent.
Due to the bleak trade outlook, the DIHK cut its 2019 gross domestic product growth forecast for the German economy to 0.4 percent from 0.6 percent previously.
It forecasts GDP growth of 0.5 percent for 2020, adding that the increase was mainly due to an unusual high number of working days next year.