VDMATrend reversal in machinery exports to Russia
Last year brought a turnaround in business with Russia for German mechanical engineering companies. For the first time in four years, machinery exports were back in the black in 2017. However, the VDMA is only cautiously optimistic about future developments.
The expansion of domestic industrial capacities is also boosting exports to Russia, according to the VDMA. This is because the country is relying on machines and systems "made in Germany" for its modernization. However, it is not just German manufacturers that are benefiting, but all of Russia's key machinery suppliers. For example China ('CN' in the table): Back in 2016, Chinese suppliers sold machinery and equipment worth a total of €4.9 billion to Russia, an increase of 73%. This meant that China overtook Germany as Russia's most important supplier of machinery for the first time. This picture changed slightly in 2017. According to Chinese export statistics, China delivered machines worth around 5.1 billion euros to Russia, slightly less than Germany. Nevertheless, German manufacturers have lost their former lead in terms of market share on the Russian machinery market.