BERLIN (XINHUA) – Exports of Germany’s electrical industry decreased in September by 0.9 per cent year-on-year to EUR18.1 billion (USD21.5 billion), the German Electrical and Electronic Manufacturers’ Association (ZVEI) said on Friday.
The decline slowed down in September as the figure for August was still a drop of 7.7 per cent year-on-year to EUR15.4 billion, the ZVEI said.
“The latest decline was therefore much smaller than in the third quarter as a whole,” when the industry’s exports fell by five per cent to EUR51.5 billion, said ZVEI Chief Economist Andreas Gontermann in a statement.
In September, “industry deliveries to five of the top 10 countries increased again,” the ZVEI noted. Exports to China, the most important export customer of the German electrical industry, increased by 8.6 per cent year-on-year to EUR2.1 billion.
At the same time, the other five of Germany’s key export countries recorded declines. According to the ZVEI, exports to the United States dropped by 7.1 per cent to EUR1.5 billion and to France by 5.4 per cent to EUR1.1 billion.
“In the first three quarters of this year, deliveries increased to China and Poland only,” Gontermann said.