The German electro and digital industry in the ZVEI Business Cycle Report

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The ZVEI Business Cycle Report (edition February 2022) shows that, also due to bulk orders, the German electro and digital industry once again collected 34.1% more new orders in December 2021 than a year earlier. Domestic and foreign bookings were up by 42.0% and 27.6% in the last month of the last year, respectively. Euro area customers raised their orders by 19.8% compared to December 2020. At the same time, bookings from third countries rose by 32.0%. Hence, for the full last year an increase in new orders by 23.9% is registered in the books. Bookings from domestic customers picked up by one fifth (+20.1%). New orders from abroad were 27.0% up. While new orders from euro zone clients advanced by 23.1% last year, customers from third countries raised their bookings by 29.2%. Output (adjusted for price) of electrical and electronic products was up by 3.4% (year over year) in December. In the overall last year it, therewith, grew by 8.8%. Thus, the 2020 loss (of -6%) was more than compensated. For 2022 the ZVEI awaits the sector’s real production to grow by 4%. Sales of the domestic electro and digital industry amounted to €18.1bn in December 2021, leaving them 8.5% higher than a year earlier. Revenues from businesses with domestic and foreign clients rose by 12.6% (to €8.7bn) and 5.1% (to €9.4bn), Businesses with euro zone customers increased only slightly in December by 1.2% to €3.1bn. In contrast, turnover with clients from third countries grew by 7.0% to €6.3bn. With it, in the full last year the sector’s aggregated sales soared by 9.7% to an all-time high of €199.5bn. Businesses with foreign customers (+10.5% to €105.7bn) thereby exceeded sales to domestic business partners (+8.9% to €93.8bn) by twelve billion euro. Turnover with euro area clients advanced by 8.3% to €37.7bn in 2021. Eventually, revenues from sales to third countries were 11.7% up from 2020 and came to €68.0bn.

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