German foreign trade in electrical goods hits new levels
New figures for September and Q1-Q3 show solid growth in German electrical and electronics exports this year
Nov 25, 2014
Berlin (gtai) - Figures released Monday by the ZVEI electrical industry association reveal strong growth in German exports and imports of electrical and electronic products this year
In the first three quarters of 2014, exports of electrical and electronic products reached 122.0 billion euro while imports hit 105.1 billion euro. That is an increase on the same period last year of 3.7% and 5.9% respectively.
In September the branch’s exports totaled 14.6 billion euro – a 9.8% increase on the same month last year. Exports to the USA grew by 8.8% to 1.2 billion euro and exports to the eurozone reached 4.7 billion euro which was a year-on-year increase of 6.5%. In the same period, imports of electrical and electronic products to Germany totaled 12.7 billion euros representing year-on-year growth of 10.9%.
However, it was China that led the pack with German electrical and electronic exports to the country in September growing year-on-year by 25.0% to reach 1.4 billion euro, making the People’s Republic the largest buyer of German electrical and electronic products ahead of the USA and France, the association reports.
“These positive figures – achieved despite uncertain times in the global market – demonstrate the robustness of the German electronics industry and prove the potential that this solid market has for foreign investors,” says Max Milbredt, electronics industry expert at Germany Trade & Invest.