All time high for German electrical exports
According to the ZVEI the exports of the industry climbed by 4.9% last year to EUR 165.5 bn, exceeding the existing all time high of EUR 159.9 bn from 2012.
In December 2014 alone exports grew by 15.4% against the prior year to EUR 13.7 bn, the highest figure ever achieved for December.
It is China that the electrical industry has to thank especially for its export record, with exports to this country rising by 16.1% in 2014 to EUR 14.9 bn, making the People’s Republic the largest customer for German electrical exports for the first time. Furthermore, an absolute growth of EUR 2.1 bn made the absolute contribution of the Chinese business the largest to the electrical industry’s absolute export growth last year.
Russia dropped out of the top ten with a 22.4% decline in exports to EUR 4.2 bn. Additionally, the Russian business, which turned out EUR 1.2 bn lower than in 2013, was the greatest mathematical encumbrance to the industry’s export growth last year.