The 30 German companies listed in the blue-chip DAX index have thrived mostly because of a boost in foreign turnover, a fresh study has shown. The finding reflected larger business opportunities in emerging markets.
Overall turnover logged by Germany's 30 DAX-listed companies rose to 1.116 trillion euros ($1.543 trillion) in 2013, marking 24-percent surge from 2008 levels, a new study by PricewaterhouseCooper (PwC) revealed Wednesday.
The consultancy firm said revenues recorded via the companies' activities in foreign markets increased by a staggering 33 percent over the same period to reach 855 billion euros last year.
"It's impressive how successful German companies have been in overcoming the big crises of the past years, with most of them not just surviving, but actually emerging stronger," PwC said in a statement. "This would clearly not have been possible without their strong business activities abroad, PwC executive Petra Justenhoven added.
Neglecting the home front?
The study noted that carmaker Volkswagen posted 159 billion euros in foreign turnover last year, more than any other competitor in the DAX index. VW saw its foreign revenues rise by a staggering 85 percent between 2008 and 2013. Among the top five with regard to their turnover abroad were two other auto makers, notably Daimler and BMW.
All in all, five DAX firms secured more than 90 percent of their total 2013 turnover in markets outside Germany.
PricewaterhouseCooper said the figures reflected the fact that the domestic market had only been growing at a slow pace while emerging economies for instance offered a far greater growth potential for Germany's economic heavyweights.
hg/hc (dpa, PwC)