ZVEI – Exports from the German electronics and digital industry continue to rise – but are losing momentum

Exports to China down in the first half of the year

Exports from the German electronics and digital industry grew by 5.7 percent in June 2023 compared to the same month last year. They reached a value of 21.3 billion euros.

“Although the monthly exports could be increased again, the momentum was again weaker than in the previous month,” said ZVEI economics expert Matthias Düllmann.

For the entire first half of 2023, electrical exports totaled 127.3 billion euros, exceeding the previous year’s level by 9.0 percent.

An increase of 7.1 percent to 22.4 billion euros was reported for imports of electrical and electronic products to Germany for June 2023. In the overall period from January to June of this year, imports increased by 11.8 percent to 136.2 billion euros.

The German electrical and digital industry continued to deliver most of its exports to China in the first half of 2023. 

“However, the sector’s exports to the People’s Republic have developed poorly in the course of the year to date. There was no possible revival after the end of the corona restrictions,” explains Düllmann. 

Electrical exports to China in June 2023 fell by 2.0 percent to 2.2 billion euros compared to the previous year and by 2.5 percent to 12.5 billion euros in the first six months of this year. In contrast, deliveries to the United States, which ranks second in the customer ranking, increased by double digits both in June (+10.5% to €2.2 billion) and in the first half of the year (+13.7% to €12.5 billion). become.

There was also strong growth in exports to the Netherlands (position 3). These increased in June by 10.2 percent to 1.3 billion euros and from January to June by 26.9 percent to 7.8 billion euros. The increases in exports to France and Italy were more moderate. The former grew by 3.4 percent to 1.4 billion euros in June and by 7.5 percent to 7.7 billion euros in the first half of the year, the latter by 3.0 percent to 1.0 billion euros or by 7.9 percent to 6.1 billion euros.

Sixth place is taken by Poland, to which the German electrical and digital industry delivered goods worth 1.0 billion euros in June 2023 (+ 10.8% on the previous year). In the first half of the year, exports to Poland amounted to 5.8 billion euros (+ 9.4%). Industry exports to Austria also continued to increase. They rose by 5.9 percent to 907 million euros in June and by 12.9 percent to 5.5 billion euros in the first half of this year.

Electrical exports to the eighth-place Czech Republic fell by 2.8 percent to 840 million euros in June. A minus of 3.5% to 5.0 billion euros was also recorded for the entire first half of the year. In contrast, increases were reported in transactions with the United Kingdom: They expanded by 8.4 percent to EUR 848 million in June and by 8.0 percent to a total of EUR 4.9 billion from January to June.

Switzerland completes the top 10 list. In June, the Swiss received German electrical products worth EUR 719 million (+ 4.1%), and EUR 4.2 billion (+ 5.3%) in the entire first half of the year.