The German electronics industry can breathe a sigh of relief after a slump. Exports have risen sharply.
The German electrical industry is recovering from the losses as a result of the corona pandemic. In May exports rose sharply by 26.6 percent compared to the same month last year to 17.1 billion euros, as the industry association ZVEI announced in Frankfurt.
“A year ago, however, they had collapsed by more than a fifth due to the corona pandemic,” said ZVEI chief economist Andreas Gontermann. Exports to Spain, France and Italy increased the most, and there was also a leap up in the important export market, the USA.
After the first five months of the year there is an upward trend: According to ZVEI, exports from January to May totaled 89.4 billion euros, almost 12 percent more than a year ago. “The growth in the course of the year to date in 2021 has now made up for the losses from 2020,” Gontermann said.
The Central Association of the Electrical and Electronics Industry (ZVEI) recently raised its production forecast for the year as a whole from plus five percent to plus eight percent. The association is confident that it will be able to make up the production losses of the previous year of minus six percent in the current year.
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.
