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Germany Can Increase Its Raw Material Import Security of Supply

Author

Listed:
  • Lukas Menkhoff
  • Marius Zeevaert

Abstract

Over 90 percent of Germany’s raw materials supply is imported and many of these imports come from only a small handful of producer countries. Often, these producer countries tend to be less democratic. In this respect, supply risks are extremely high in some cases, including for mineral raw materials such as rare-earth elements, lithium, and magnesium. To increase raw material import security of supply, various economic policies can be undertaken. European customers could bundle their procurement of raw materials to counter the market power of the few suppliers and more diversification potentials in imports could be used. Raw material storage should also be reconsidered and supplemented by a mandatory minimum reserve. In the long term, raw material imports can be reduced by recycling more and expanding domestic mineral raw material production. Finally, technical innovations should be initiated to replace raw material imports. These measures should be coordinated at a European level as much as possible.

Suggested Citation

  • Lukas Menkhoff & Marius Zeevaert, 2022. "Germany Can Increase Its Raw Material Import Security of Supply," DIW Weekly Report, DIW Berlin, German Institute for Economic Research, vol. 12(49/50), pages 317-325.
  • Handle: RePEc:diw:diwdwr:dwr12-49-2
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    File URL: https://www.diw.de/documents/publikationen/73/diw_01.c.862062.de/dwr-22-49-2.pdf
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    Citations

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    Cited by:

    1. Marco Siddi & Federica Prandin, 2023. "Governing the EU’s Energy Crisis: The European Commission’s Geopolitical Turn and its Pitfalls," Politics and Governance, Cogitatio Press, vol. 11(4), pages 286-296.

    More about this item

    Keywords

    raw material imports; national security; vulnerability; diversification;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F52 - International Economics - - International Relations, National Security, and International Political Economy - - - National Security; Economic Nationalism
    • Q37 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Issues in International Trade

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