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Business

German Firms Increasingly Leaving Home

Germany companies are increasingly leaving their home turf, a poll published by the German Chambers of Industry and Commerce (DIHK) said Monday. The DIHK estimated that the number of firms that invest abroad could reach a record high this year. While large companies have long been active outside Germany, small- and medium-sized companies are progressively leaving too. Many of the firms aim to quickly develop their businesses abroad, at the same time as they reduce their investments in Germany. DIHK chief Martin Wansleben said it was alarming that high production costs in Germany continued to be the main reason companies give for leaving the country.