Enhanced Export Activities in Germany's Electrical and Digital Sectors
The German electronic and digital exports market is showing signs of revival. In April, the sector saw a 7.0% growth over the previous year, totaling 20.3 billion Euro. This recovery, comes after a series of downfalls in the latter half of 2023, as explained by Andreas Gontermann, the Chief Economist of the industry association ZVEI, on Thursday. Over the first four months, exports amounted to a total of 83.4 billion Euro, dipping slightly by 1.7%, close to the same figures as the previous year's period.
Imports of electronic and electrotechnical goods into Germany remained consistent in April, standing firm at 20.5 billion Euro. From January to April 2024, imports amounted to 83.9 billion Euro, showing a decrease of 7.4%, according to the provided data.
Exports to China saw a significant leap of 24.8% or 2.3 billion Euro in April. The US also showed positive growth, with exports to the US improving by 14.6%, totaling 2.2 billion Euro. Across Europe, a minor increase of 0.6% in exports was observed, totaling 12.1 billion Euro.
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The revival in Germany's digital and electrical export business has also impacted the digital industry, with a noticeable increase observed in April. Vice versa, the electrical sector has benefited from the surge in digital exports, contributing to the overall growth. Looking ahead to the year, the industry association ZVEI anticipates continued growth in this export business, aiming to surpass last year's figures.
