The president of the Confederation of German Industry (BDI), Siegfried Russwurm, said that one in six industrial companies in Germany is moving production abroad due to high labor and energy costs.

BDI conducted a survey on the production and business conditions of medium-sized industrial companies operating in Germany, Anatolia reports, reports Al Jazeera Balkans. Russwurm, presenting the research, said that for greater investment by industrial companies, a reduction in bureaucracy and taxes is needed in Germany. He clarified that 16 percent of the companies that participated in the BDI survey transfer part of their production and business operations abroad.

"Another 30 percent of companies are considering doing the same," Russwurm said.

That said, energy and raw material prices are among the biggest challenges for nearly two-thirds of companies in Germany. Russwurm noted that nearly three-quarters of companies complain that labor costs are too high, primarily due to a lack of skilled workers.