According to figures drawn up by the Gesamtverband Deutscher Holzhandel (GD Holz – General German Timber Trading Association) turnover generated by the German timber trade in 2012 showed year-on-year growth of 1.5% to a good €11bn. The association attributes this slight increase not only to a positive trend in the renovation sector in Germany, but also to new building in cities. In contrast, the association reports that the export trend was not able to keep pace with that shown by the domestic market. Timber traders' exports to southern European countries in particular suffered declines.