Despite the pressure of supply shortages, Germany’s machinery exports returned close to pre-COVID levels in 2021 and will expect a record growth in 2022, as reported by Süddeutsche Zeitung. German Mechanical Engineering Industry Association (VDMA) also disclosed that Germany’s machinery exports rose nominally by 9.8% to 179.4 billion euros - narrowly missing the pre-COVID level by about 1%. VDMA economics expert Olaf Wortmann explained that despite brisk orders from abroad, supply chain pressures have had an impact on machinery exports. However, the initial signs of loosening supply constraints and the continuing high level of incoming order indicate that 2022 could become a record year. The EU countries are the most important customers of German machinery, accounting for nearly 44% of the total sales; the exports to EU went up by 10.8% to 78.5 billion euros last year. German exports to China also increased by 6.3 percent to about 19.3 billion euros last year.
(Source: CCPIT / China Trade News)
Zhang Yongming Chairman ...
Promoting international trade, promoting utilization of foreign investment, prom...
CCPIT Beijing, a foreign economic and trade organization composed of representat...