ZVEI
German electrical industry with record sales in the first half of the year
Incoming orders in the German electrical and electronics industry continue to develop modestly: In June of this year, they fell 1.0% short of the previous year's figure. Nevertheless, price-adjusted production in the sector increased in June compared to the previous year.
In June of this year, incoming orders fell short of the previous year's figure by 1.0%. Domestic customers ordered 2.2% less, foreign customers 0.2% less. While orders from the eurozone rose by 5.2%, orders from third countries fell by 3.0%. In the first half of 2018 as a whole, orders recorded a small increase of 1.0% compared to the previous year. Here, a 4.0% decline in orders from Germany was offset by a 5.3% increase from abroad. Customers from the eurozone increased their orders by 2.2% in the first six months, while demand from third countries grew by 7.1%.
Price-adjusted production in the sector rose by 4.2% in June compared to the previous year. Cumulative growth of 3.3% was achieved from January to June. "Production growth in the first half of the year is therefore in line with ZVEI expectations for the year as a whole," says ZVEI Chief Economist Dr. Andreas Gontermann.
At 17.3 billion euros, industry revenue in June 2018 was 1.7% higher than a year earlier. While domestic sales fell slightly by 0.9% to EUR 8.1 billion, international sales increased by 4.0% to EUR 9.2 billion. Revenue with customers from the eurozone (+ 6.0% to 3.3 billion euros) increased twice as much as revenue with customers from third countries (+ 2.8% to 5.9 billion euros) in June. In the first half of the year as a whole, sales in the German electrical and electronics industry increased by 3.6% year-on-year to 96.2 billion euros. "This is the highest figure ever achieved in the first half of the year," said Dr. Gontermann. Domestic sales (+ 3.4% to 45.6 billion euros) and foreign sales (+ 3.8% to 50.6 billion euros) developed quite similarly between January and June. 18.7 billion euros were generated with customers from the eurozone (+ 5.1%) and 31.9 billion euros with customers from third countries (+ 3.0%).
The business climate in the German electrical and electronics industry declined in July of this year. While the assessment of the current situation remains at a high level, general business expectations declined. "However, export expectations hardly changed despite Brexit uncertainty and trade disputes," said Dr. Gontermann. "Here, the number of optimists outweighs the number of pessimists by 14 percentage points."
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