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Germany’s electrical industry expects growth in 2021

 

Berlin, Germany | XINHUA |  After a seven percent drop in production last year, Germany’s electrical industry is expecting production to increase by five percent in 2021, the German Electrical and Electronic Manufacturers’ Association (ZVEI) said on Thursday.

“This would make up for around two-thirds of last year’s losses,” according to ZVEI. The association is expecting a return to pre-crisis levels in the course of 2022.

In the first 11 months of 2020, exports of the German electrical industry decreased by 6.6 percent year-on-year to 185.2 billion euros (224 billion U.S. dollars). According to ZVEI, exports to the United States dropped by 10.3 percent while exports to Britain were even down by 12.9 percent.

Exports to China increased by 5.7 percent to 21.2 billion euros between January and November, ZVEI noted. Already in 2019, China had been the biggest single export country for the German electrical industry, as goods worth 21.9 billion euros had been exported to China.

Germany’s electrical industry “performed slightly better than some other manufacturing sectors,” said ZVEI President Gunther Kegel in a statement.

The increasing electrification and digitization had played a major role in securing a comparatively solid economic situation for the industry. According to Kegel, only through innovations could this development be driven forward.

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