There is a lot of movement in the electrical and digital industry. However, an atypical foreign trade deficit has emerged in the industry.
In May, the German electrical and digital industry achieved a double-digit increase in its exports for the first time this year. The value of the exports was 19.1 billion euros and thus 11.9 percent more than a year earlier, as reported by the ZVEI industry association in Frankfurt. However, these nominal values include significant price increases.
Electricity imports climbed even faster: they increased by 21.2 percent to 19.6 billion euros. From January to May, imports totaled 100.1 billion euros, 14.3 percent up on the previous year. In the same period, exports grew by only 5.8 percent to 95.2 billion euros. This results in a foreign trade deficit of almost 5 billion euros, which is actually atypical for the industry.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
