Head of foreign trade at the German Chamber of Commerce and Industry (DIHK) Volker Treier held a conference on the effects of the coronavirus (COVID-19) outbreak for the German economy, at the Federal Press Conference in Berlin on Friday morning.
Treier spoke about the consequences of the ongoing coronavirus outbreak for economic relations between Germany and the most affected country by COVID-19, China, as well as the most affected in Europe, Italy.
"China is a relevant economic partner for the German economy: it is our number one trading partner in current times," he stated. He said he feared that German exports to China, following a 20 percent decline in automobile exports to China last month, would have suffered significantly in February.
"We are close to a recession. The danger of a recession cannot be eliminated at this moment, quite the contrary," he said.
According to the latest reports by the European Centre for Disease Prevention and Control (ECDC), at least 83,300 people have been infected by the COVID-19 so far worldwide and over 2,850 people have died.