Germany Machine Exports Post Positive Start To 2023
In the first quarter, mechanical and plant engineering companies from Germany increased their exports by a nominal 13.8 percent compared to the previous year. Exports to the USA again increased significantly more than to China. Machine exports to Germany’s EU partner countries increased by a nominal 10.4 percent in double digits.
The export-strong mechanical and plant engineering companies from Germany achieved good export results in the first quarter. According to preliminary results from the Federal Statistical Office, machine exports rose by a nominal 13.8 percent year-on-year in the first quarter to EUR 51.3 billion. Adjusted for prices, machine exports increased by 4.4 percent in the first three months of the current year. “The gratifying growth in exports is partly driven by inflation, partly due to the fact that the supply chains have relaxed in many areas. This means that machine and plant manufacturers can finally supply many of their customers and reduce their high order backlog,” says VDMA chief economist Dr. Ralph Wiechers.
USA Continues As Most Important Market
Machine deliveries to the USA, the most important export market, continued to show high nominal growth of 26.5 percent compared to the previous year. The export value of machines and systems ‘Made in Germany’ to the USA was around 6.9 billion euros in the first quarter. In contrast, German machine exports to China only increased by a nominal 2.9 percent to a total of 4.6 billion euros. “After the end of the corona measures at the end of last year, the export business with China was not able to gain significant momentum as hoped,” adds Wiechers.
Double-Digit Exports Increase To EU Countries
Machine exports to Germany’s EU partner countries increased by a nominal 10.4 percent in double digits. They thus came to a value of more than 22.4 billion euros in the first quarter. Machine exports to the five most important customer countries within the EU-27 developed as follows: France : plus 18.2 percent, Italy : plus 10.6 percent, the Netherlands : plus 10.3 percent, Austria : plus 1.6 percent and Poland : up 11.6 percent. Machine exports from Germany to other European countries such as Great Britain (plus 14.8 percent) and Switzerland (plus 19.2 percent) also increased significantly.
Machinery Exports To Russia Continue To Fall Sharply
Machinery exports to Russia fell significantly by a nominal 49.6 percent last year as a result of the Ukraine war. This trend has solidified: In the first quarter of this year, machine exports were nominally 48.9 percent below the same quarter of the previous year. This means that Russia’s share of all German machine exports is now less than 1 percent. Russia has slipped to 25th place in the export rankings. Before the annexation of Crimea in 2014, the country was ranked fourth. On the other hand, German machine exports to India continue to develop very positively. Export growth to India was nominally 10 percent in the first quarter compared to the previous year.
For more information: www.vdma.org