Even so, the hit has tended to be smaller than that experienced by many other emerging economies with exports oriented to countries other  Washington, October; and Institute of International Finance (2015). “Living With Less: Oil Exporters’ Different Adjustment Paths,” December. 3  To appreciate the contrast, it is worth noting that in 1982 oil represented 68 percent of total exports.
Recent figures from girocard2 – the German debit card system run by the banking sector – seem to confirm this change. The number of girocard transactions in the first half of 2020 was 21% up on the first two quarters of 2019, climbing to 2.6 billion transactions.