VDMA / Export of German machinery
USA remains largest export market
In 2017, exports of German machinery increased by just under 8%, according to VDMA Chief Economist Dr. Ralph Wiechers. The USA defended its top position in the export rankings, just ahead of China. The biggest winner is Mexico. The UK is one of the losers.
"Our most important sales region - the EU - is gaining new strength. This is not only good for our export statistics, but also for the competitiveness of our European customers," says VDMA Chief Economist Dr. Ralph Wiechers.
© VDMA
Overall, machinery and plant manufacturers from Germany exported goods worth 168.1 billion euros to their target markets around the globe - a nominal increase of 7.9% or 12.3 billion euros compared to the previous year. According to the VDMA, exports to the United States increased by 11.6% to just under 18 billion euros last year. China once again took second place in the export rankings; growth of 22.6% led to an export value of 17.4 billion euros.
There is a particular demand abroad for drive and conveyor technology from German mechanical engineering companies.
© Federal Statistical Office, VDMA"Regardless of all the successes in distant markets, it is important and pleasing for our industry that exports to EU countries also increased strongly by 5.1% to EUR 77.9 billion," says VDMA Chief Economist Dr. Ralph Wiechers. The UK, on the other hand, is one of the few losers among the major target countries for mechanical engineering, along with Turkey. Exports to the United Kingdom fell by 2.9% to 7.2 billion euros in 2017. The country therefore slipped to fifth place behind Italy in the export rankings. "The uncertainty caused by Brexit and the increase in the price of our products due to the sharp devaluation of the British pound are clearly making themselves felt," comments Wiechers.
German machinery exports to Russia (9th place, up 22.5%, 5.3 billion euros) and Mexico (16th place) recorded high growth rates: Machinery exports to Latin America's largest country increased by almost 29% to 3.2 billion euros. This was the strongest growth among the top 20 target countries. These exports were driven not only by the automotive industry, but increasingly also by other industrial sectors such as the food and packaging industries, which are becoming increasingly established in Mexico.
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