Germany’s electrical and digital industries are recording a nominal increase in exports despite global economic uncertainties.
The German electrical and digital industry increased its exports last year. After eleven months, deliveries abroad totaled 234.9 billion euros, exceeding the previous year’s figure by 3.8 percent, as the industry association ZVEI announced. The increase is in nominal terms – i.e. without taking the comparatively high inflation into account.
“Despite the declines of the last few months – and subject to the December data still outstanding – German electrical exports are likely to have ended the past year overall with a nominal increase,” explained ZVEI chief economist Andreas Gontermann. Imports also increased in the eleven months – by 3.5 percent to 249.3 billion euros.
For November, the association noted a decline in exports compared to the same month last year for the fifth time in a row. The value of exports was 21.9 billion euros, 1.9 percent less than the year before.
Source: Stern
