Turnover of German tech industry has increased towards € 800
billion in 2013
German manufacturing is dominated by the tech industry. The automotive
sector and the mechanical and electrical engineering industries together
account for 44% of the turnover of German manufacturing. Including suppliers
in the rubber, plastics and metals industries, the figure rises to 61%, and
turnover of € 1,057 billion in 2012. In other words, it is an enormous industrial
market right on the Netherlands’ doorstep.
Provided the European economy shows some recovery, the turnover of the
mechanical engineering and automotive sectors can be expected to grow by
3% during 2014. The combined turnover of these sectors and the electrical
engineering industry will come close to € 800 billion this year. In the coming
years, Germany will continue to profit from demand in the rapidly emerging
economies, despite a trend towards local-for-local production (in Asia, for Asia).
Furthermore, there is a certain cachet to capital goods bearing the ‘Made
in Germany’ label. The tech industry’s turnover will probably pass the € 900
billion mark in the course of this decade.