Machine toolsProduction remains at record level in 2019
The German machine tool industry is expecting production to grow by 2% in 2019, according to the annual press conference of the German Machine Tool Builders' Association (VDW).
Exports account for around 70% of the machine tool business. It rose by 3% in 2018. China remains by far the most important market for German manufacturers. With growth of 5% in the first eleven months of 2018, the country accounts for 22% of German exports, followed by the USA with a share of around 13% and growth of 7%. Italy is in third place with a share of 6%. Exports to Italy have risen by 21%, supported by depreciation allowances from the Italian government. Poland has positioned itself in 4th place with growth of 9%, induced by orders from the automotive supply sector. Among the top 15, Switzerland and Spain also stood out with double-digit growth. Things went less well in France, Austria and India. As expected, exports to the UK also fell by 15%. The UK now only accounts for 2.5% of German deliveries.