Growing economic uncertainty in Germany could put more than 200,000 jobs at risk this year, something thousands of Pakistani workers should reconsider if relocating to Europe.
A German news channel reported earlier that credit insurer Allianz Trade expects a rise in corporate insolvencies due to the US war on Iran.
According to Allianz Trade, business failures in Germany are projected to increase by 2.4 percent this year, reaching approximately 24,650 cases (the highest level in 14 years). The insurer warned that these insolvencies could place more than 200,000 jobs at risk across multiple sectors.
A representative of Allianz Trade for Germany, Austria, and Switzerland said the ongoing war in the Middle East and continued global trade disputes are already weighing heavily on German companies and slowing business.
Official figures from the Federal Statistical Office show that German courts recorded 24,064 insolvency cases last year.
Globally, Allianz Trade expects corporate insolvencies to grow by about six percent. Rising energy costs linked to regional wars are particularly affecting energy-intensive industries such as transportation, chemicals, and metals.
Despite the challenging outlook for 2026, insolvency cases could decline slightly after geopolitical pressures ease.
For Pakistani job seekers exploring opportunities abroad, they need to carefully assess labor market conditions and sector demand before making long-term decisions on moving abroad.
📢 For the latest International & UAE news and analysis join ProPakistani's WhatsApp Group now!
Follow ProPakistani on Google News & scroll through your favourite content faster!
Shares
