German electronics manufacturers overcame challenging international markets to achieve 2.4% year-on-year growth for the 11 months preceding November 2014, the ZVEI has reported. Turnover in the German industry is expected to have totaled €171bn over the year.
Total exports of German electronics grew between January and October by 3.9% year-on-year to €136.8bn. Almost two thirds of these exports were to Europe, with exports to France growing by 2.9%.ZVEI reports that exports of electrical products and electronics to China (primarily automation technology, industrial control and switchgear, measurement instrumentation, and electronic components) increased 15.9% to hit €12.3bn in the period from January to October over the same period in 2013.
ZVEI predicts continued growth for the sector in 2015, to some extent thanks to ‘Industry 4.0’, part of the German government’s high-tech strategy to transform industrial manufacturing with smart factory equipment, cyber-physical systems, intelligent M2M communication and the IoT.
“German electronics manufacturers faced a testing export environment in 2014 and this was reflected in monthly variations. However, the annual performance is encouraging and testament to the strength of the sector in Germany,” said Max Milbredt, Electronics Market Expert, Germany Trade & Invest.“The growth in exports to China is staggering. China has surpassed the US for the first time as the largest importer of German electrical products, even though exports to the US also grew by 3.2%. In recent years China was also the number one country for foreign direct investment projects in the German electronics sector. This proves the ever greater integration of the two countries’ industries.”
