VDMA: Exports almost back to pre-Corona level

At 179.4 billion euros, German machinery and plant manufacturers exported almost as much as in 2019, when the figure was 179.8 billion euros. In 2020, exports fell to 163.4 billion euros due to the dislocations caused by the Corona pandemic.

"Unprecedented pressure on supply chains ultimately caused machinery exports to fall just short of their 2019 level, despite brisk orders from abroad. However, initial signs of easing in the supply chains and the continuing high level of incoming orders are positive that 2022 could be a record year," comments VDMA economic expert Olaf Wortmann.

Regionally, the EU is the most important export market

Machinery exports from Germany to the EU-27 increased by 10.8 percent to around 78.5 billion euros last year. This means that just under 44 percent of the export volume remains within the EU.

Export business with the three most important customers from the EU-27, France (up 10.0 percent to 12.1 billion euros), Italy (up 22.6 percent to 8.7 billion euros) and the Netherlands (up 11.5 percent to 7.8 billion euros) also showed double-digit growth. Export business with the United Kingdom (UK) also grew particularly strongly. Exports increased by 22.8 percent to 7.8 billion euros.

The USA is the biggest importer of German machinery

The USA is the most important export market for machinery deliveries from Germany. Last year, the lead over China was even further extended. Exports to the United States increased by 13.9 percent to 20.7 billion euros. Exports to China increased by 6.3 percent to 19.3 billion euros. This means that 11.5 percent of all machinery deliveries from Germany went to the United States, while China's share decreased to 10.7 percent.

"The high growth in machinery exports to the UK is likely to be due not only to the rapid economic recovery but also to the special depreciation option introduced there. The so-called 'Super Deduction', which runs until March 2023, is intended to promote productivity-enhancing capital investments. Ultimately, this will also benefit the machinery and plant engineering sector," explains Wortmann. "For example, UK business investment in information and communications technology and plant and machinery has already returned to pre-crisis levels."

Exports to Russia and Turkey

Companies from Germany shipped 3.8 percent more machinery and equipment to Russia, now totaling 5.5 billion euros. This puts Russia in 9th place among the most important customer countries. Turkey recorded an increase of 8.9 percent to 3.9 billion euros. This puts the country in 14th place.

"The decline in export business with Turkey in the second half of 2021 can also be attributed to the increasingly sharp fall in the value of the Turkish lira between August and December. The drop in value has made engineering products from Germany, which are traded in euros, drastically more expensive for Turkish importers," adds Wortmann.

The comprehensive list of exports by region in year-on-year comparison 2020/21 is available via the download button below.