Germany reports record growth in electrical exports to China

BERLIN, May 22 (Xinhua) -- Germany's electrical industry saw its exports to China increase to 6.7 billion euros (7.2 billion U.S. dollars) in the first quarter (Q1) of 2024, representing 7.4-percent growth year-on-year, the country's industry association reported on Wednesday.

China remained Germany's largest customer country between January and March, despite a 4.3-percent decline in Germany's total electrical industry exports compared to the same period last year, the German Electro and Digital Industry Association (ZVEI) said.

"Exports to eight of the 10 largest individual customer countries of the German electrical and digital industry were lower," said ZVEI chief economist Andreas Gontermann. China and Spain were the only major markets that still recorded growth.

"With regard to electrical exports to Asia, the upturn in exports to China, which alone account for half of the total, was noticeable," Gontermann added. As a result, deliveries to the Asian region have increased slightly overall.

Following a weak development of the industry in recent months, "business with China has recently improved somewhat, which is also in line with the overall economic development in China," a ZVEI spokesperson told Xinhua on Wednesday. (1 euro = 1.08 U.S. dollar)