The booming German economy secures 4.8 million jobs in other countries of the European Union (EU). It is the result of a study by the Prognos Consultancy commissioned by the Bavarian Industry Association (vbw) published Friday.

A dynamic demand in Germany does not slow the economic development in the neighboring EU states but rather acts as an important stimulus for growth, according to the study.

The study was commissioned as a reaction to the long-standing criticism of Germany's high trade surplus. U.S. President Donald Trump called the Germans "bad, very bad" when referring to the trade surplus during a meeting with senior EU officials in May.

This development has created uncertainty for the German industry, also with regard to U.S. trade policy. The new study aims to alleviate the accusations.

In 2015, Germany imported goods from within the EU totaling around 620 billion euros (691 billion U.S. dollars). A worsening of Germany's market competitiveness could lead to a decrease of the whole EU's economic output by 36 billion euros (40.1 billion U.S. dollars) by 2023, the study finds.

"Our study debunks the myth of the alleged detrimental influence of the German market competitiveness on our neighboring states," vbw managing director Bertram Brossardt concluded.

Germany's trade surplus for 2016 rose to a record high of 252.9 billion euros (282.1 billion U.S. dollars). The German government is countering this trend by increasing the state spending on roads, digital infrastructure and asylum seekers, as well as introducing a national minimum wage in 2015 and raising pension entitlements.