German machine exports to the EU remain stable
German industry exported 43.8 billion euros in machinery in the first quarter of 2019 - 2.1% or 42.9 billion euros more than in the same period last year. The number of orders nevertheless declined.09 Jun. 2019 Barbara Rusch
Although orders are declining, exports are still satisfactory: the German Mechanical Engineering Industry Association (VDMA) has published the figures for January to March 2019. They are still provisional for EU intra-community trade because experience has shown that companies are often late to submit their reports. According to the association, the 28 EU countries purchased 48.7% of German machinery exports, while exports showed comparatively good growth of 3.9%. Exports to Sweden (10.4%) and Hungary (11.9%) increased considerably. In addition, exports to France rose by 9.6%, exports to Greece by 41.9%, with those to Portugal and Spain rising by 13.9% and 8.5% respectively.
While exports to the largest single market, the USA, grew significantly by 10.4%, exports to China rose by only 0.4% compared to the same period of the previous year. Exports to Russia fell by 13% due to the weak domestic economy and sanctions policy, while exports to Turkey fell by 9.6% due to the recession and the decay of the lira.
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