Slower growth in many advanced economies, China, and other emerging markets will mean lower demand for US exports.

The expected slowdown reflects the lower growth of both exports and domestic demand .

The dampened GDP growth expected over the projection horizon reflects weaker export growth and subdued domestic demand .

In China, for example, this involves less reliance on exports and public investment, and more on the private components of domestic aggregate demand.

Second , the deterioration in the external environment , which stemmed mainly from the slowdown in the United States at the end of 2000 , curtailed growth in euro area exports and increased the uncertainty surrounding investment and , to a lesser extent , consumption decisions .

and a price effect , which entails an increase in Asian competitiveness tending to boost net exports , thus mitigating the contractionary effects of lower domestic demand .

In line with the profile of domestic demand and exports , euro area import growth is projected to decline in both 2008 and 2009 .

Exports were relatively strong throughout the year and net exports contributed to real GDP growth , albeit not quite as much as in the previous year .

The strength of global demand should help to sustain euro area exports .

Extra euro area export volume , foreign demand and export share ( index 1995 100 )

Given patchy global demand, rapid export growth will be difficult to achieve.

On the external side , euro area exports should continue to be supported by foreign demand .

8 The breakdown of trade flows into volumes and prices is based on External Trade Statistics , prices being proxied by unit value indices . Owing to differences in definition , coverage and time of recording , trade data ( as compiled by Eurostat ) are not fully comparable with the goods item in the balance of payments statistics compiled by the ECB .

If more than one price is quoted , the lowest of these prices ( normally the bid price ) is used ,

If more than one price is quoted , the lowest of these prices ( normally the bid price ) is used .

An income tax hike will reduce private demand (unless one believes in perfect Ricardian equivalence), including demand for other countries exports.

If more than one price is quoted , the lowest of these prices ( normally the bid price ) is used .

There simply is not enough import demand in the world to absorb ever growing Chinese exports.

In recent months, Mexican exports have been slowing, while domestic consumption is picking up as a source of demand.

As a result of sluggish foreign demand , export growth declined in comparison with the previous year .

To escape the crisis, Germany used rapid export growth especially to meet voracious Chinese demand.

A gradual recovery in exports is projected , supported by foreign demand growth , although price competitiveness is expected to weigh somewhat on exports .

External demand should therefore provide ongoing support to euro area exports and investment .

As a result, the recovery in the advanced economies is not returning Chinese export demand to pre crisis levels.

On the external side , ongoing growth in global demand should support euro area exports .

Despite all the talk about the coming shift to internal demand, China remains heavily dependent on exports and external demand as major drivers of economic growth.

Over the projection horizon , export growth is expected to continue to support economic activity on the back of the assumed continued strength in foreign demand and domestic demand should firm .

It is also comparable to the demand driven collapse in 2008 2009, following the global financial crisis.

While exports did indeed perform very well, Iceland s main exports are natural resources (fish and aluminum), demand for which held up well during the post 2008 global crisis.

Weak growth in domestic demand and exports The adverse impact from high rates of inflation , the deterioration in the external environment and increased uncertainty was demonstrated by lower contributions to euro area real GDP growth from domestic demand and exports .

The recovery in global demand was the main reason for the strong growth of euro area exports , compensating for the lower external price competitiveness associated with the pronounced appreciation of the euro witnessed since early 2002 .

Continued strong external demand should provide ongoing support to euro area exports and investment .

With global demand weak, the eurozone as a whole cannot rely on exports to grow out of its debts.

Domestic demand led growth will be a more reliable strategy than export led growth.

Foreign demand for euro area exports has declined and domestic factors , notably very low confidence and tight financing conditions , have adversely affected domestic demand .

China s growth has slowed largely as a result of changes in its fundamentals less favorable demographics, a shift in emphasis from exports and public investment to the service sector and domestic consumption, and lower demand from advanced economies.

The revision almost exclusively reflects the markedly weaker growth than earlier expected in the first quarter of 2009 , related to lower activity worldwide , which reduced exports substantially and also domestic demand .

Over the projection horizon , the recovery in exports continues , driven by foreign demand and higher competitiveness .

Wage compression saps domestic demand, while subsidizing exports, on which Germany s growth relies.

The turnover index for retail trade is a significant indicator of consumer demand .

Robust export growth , as implied by the assumption of continued strength in foreign demand , is expected to spill over gradually to domestic demand in the course of this year .

On the demand side, exchange rate devaluations made non traditional exports more competitive and helped boost demand for relatively unskilled labor.

The task for economic policy was to compensate for the resulting shortfall in private demand until households eventually recovered.

Sluggish foreign demand and the impact of the appreciation of the euro contributed to the initial fall in euro area export volumes , while the strong pick up in foreign demand in the third quarter of 2003 seems to have been the key explanatory factor behind their recovery . Overall , in the first three quarters of 2003 export volumes were slightly

Until recently, the euro also provided booming external demand in southern Europe, while China s breakneck industrial development raised demand for Germany s traditional exports.