German electrical and electronic industry: exports to the euro area increased by 8.3% in February (yoy)


According to the ZVEI Foreign Trade Report published in April, exports of the German electrical and electronic industry continue their upward trend. In February 2014 they increased by 6.3% (year over year) onto 12.5 billion €. It was the steepest rise since July 2012. From January through February of this year the sector’s exports came to 26.0 billion € and, therefore, exceeded their pre-year level by 4.4%. With it, they have once again performed somewhat better than production and turnover. German imports of electrical and electronic products picked up markedly too in February. With 10.4 billion € they were 6.6% up on their 2013 level. And in the first two months of this year they grew by 6.4% (yoy) onto 23.0 billion €.

E&E exports by regions
With a plus of 6.6% (yoy) onto 8.3 billion € in February 2014 exports to the industrialized countries have once again risen slightly more dynamically than those to the emerging markets (+5.9% onto 4.2 billion €).

Industrialized countries
While exports to the USA (+0.5% to 1.0 billion €) and Japan (-0.2% to 0.2 billion €) more or less stagnated, exports to the euro area (+8.3% to 4.1 billion €) and the UK (+10.4% to 0.7 billion €) increased considerably. Businesses with France, Italy and Spain grew by 6.5%, 5.6% and even 14.0%, respectively. Likewise exports to the Czech Republic (+24.8% to 0.5 billion €) and Slovakia (+33.7% to 0.2 billion €) soared strongly.

Emerging markets
Exports to China rose by vigorous 18.4% (yoy) onto 1.1 billion €. And exports to the Eastern European countries Poland and Hungary picked up by 17.0% (to 0.4 billion €) and 22.2% (to 0.3 billion €), respectively. Against it, the sector’s overall exports to Africa (-4.0% to 0.2 billion €), Middle East (-3.5% to 0.4 billion €) or Malaysia (-3.6% to 0.1 billion €) declined.

Latin American Business
From 2000 through 2013 the German E&E industry’s exports to Latin America have doubled from 2.1 to 4.4 billion €. Brazil and Mexico are the biggest countries of destination in the region. Last year they absorbed exports of 1.6 and 1.4 billion €, respectively. Since 2000 exports to Chile and Peru have evolved particularly dynamically. However, in 2013 exports to Latin America have stagnated. Here, more exports to Mexico (+7%), Chile (+7%) or Peru (+20%) and less exports to Brazil (-4%), Argentina (-2%) or Venezuela (-17%) faced each other. Between January and February 2014 exports to Latin America exceeded their pre-year level by 4.7% (Brazil: -1.1%, Mexico: +4.7%).