The trend was going in the same direction anyway and was accelerated by the pandemic: Germany is probably no longer the world export champion in mechanical engineering. But that doesn’t have to be bad news.
According to their own calculations, Germany’s mechanical engineering companies have lost their title as export world champion to China.
According to an initial estimate by the German Engineering Federation (VDMA) for the past year, China, with 165 billion euros, made up 15.8 percent of the total export volume of machines and systems.
According to this, Germany sold machines and systems to the value of 162 billion euros abroad and thus in 2020 had a share of 15.5 percent of the global foreign trade volume estimated at around 1,048 billion euros in this area. In 2019, the German suppliers still had a lead of 1.4 percentage points on China in the foreign trade statistics of the mechanical engineering sector. “Welt” had previously reported on the study that the VDMA published on Wednesday.
“The corona pandemic in particular gave China’s rise a powerful boost because the country was affected very early and only very briefly, while the European sales market suffered a severe setback from the pandemic,” said the head of VDMA foreign trade, Ulrich Ackermann, in one Communication from the association. “A strong economic recovery in the EU could ensure that machine exports from Germany and other European countries will grow faster again in 2021. But the long-term trend speaks clearly in favor of China. “
According to the VDMA, the rise of China also opens up opportunities for German manufacturers. For example, there is “noticeable pent-up demand” in the field of industrial robots in China, which promises good export opportunities. According to a survey of 222 member companies on which the study is based, around 36 percent of machine and plant manufacturers from Germany and Switzerland rate the Chinese strategy “Made in China 2025” as positive for their own business. With this strategy and the current five-year plan, the People’s Republic is striving for technological supremacy in various industrial fields, for example in intelligent manufacturing and robotics or in agricultural engineering.
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.
