DHL 2009 Annual Report Download - page 38
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 |
ture programme. growth therefore fell only moderately to . (previous year:
. ) despite the drop in exports. China’s trade surplus decreased signi cantly
from billion to billion. Direct investments were at a high level, totalling
approximately billion.
Japan, whose economy is highly export dependent, was hit particularly hard by
the collapse in international trade. Exports fell by nearly a quarter and by more
than .
At the start of , the euro zone was also heavily a ected by the crisis. Exports
collapsed and investment dropped dramatically. Unemployment rose sharply, with pri-
vate consumption falling accordingly. anks to government economic stimulus plans,
the economy began gaining a foothold in the spring with a slow recovery setting in
during the second half of the year. However, this was not nearly su cient to o set the
collapse at the beginning of the year. As a result, fell by . in the reporting year
(previous year: + . ).
At the start of the year, Germany was more heavily a ected by the collapse in in-
ternational demand. Exports decreased by . , and investments in machinery and
equipment dropped a full . therefore shrank by . (previous year: + . ).
Private consumption held at nearly the prior-year level, however, thanks in part to the
government’s environmental rebate for trading in used cars (Abwrackprämie).
Oil prices again on the rise
e average Brent Crude oil price was per barrel ( litres) in , a drop
of around from the prior-year level. In the face of the crisis at the start of the year,
the price fell to approximately per barrel – its lowest level for several years.
However, by mid-year oil prices were back up to due to production cuts
and improved economic indicators. By year-end the price had reached nearly
a barrel.
. Brent Crude spot price and euro / dollar exchange rate,
January March June September December
Brent Crude spot price per barrel Euro / dollar exchange rate
100
85
70
55
40
25
1.65
1.60
1.55
1.50
1.45
1.40
1.35
1.30
1.25
1.20
1.15
Deutsche Post DHL Annual Report
Group Management Report
Business and Environment
Economic parameters
21