According to Zvei, the German Electro and Digital Industry Association, exports of the German products of the sector picked up by 11.9% (year over year), reaching to 19.1 billion eueo in May 2022. Looking at the regional markets, the German sector’s deliveries to the euro area soared by 8.8%, and exports to the countries outside the euro area climbed by 13.4%.
«Therewith – the Association said – for the first time in the current year deliveries abroad grew by a double-digit rate. As foreign trade figures are in nominal terms, in part the recent increase was presumably due to the present inflationary environment». During the first five months 2022 the sector’s aggregated exports reached a value of 95.2 billion euro, leaving them 5.8% higher than a year earlier.
Regarding German imports of electrical and electronic goods, Zvei recorded an increase of almost twice as fast as exports in May. With 19.6 billion euro, they were 21.2% up on the year before. Accumulated from January through May imports increased by 14.3% (again year-on-year rate) to 100.1 billion euro.