VDMA: Corona crisis noticeably slows exports in mechanical engineering
Machine exports from Germany were hit hard by the corona pandemic in the second quarter. Between April and June 2020, they fell by 22.9 percent year-on-year to 35.2 billion euros. In the first quarter, exports were still 5 percent below the previous year's figure; for the first six months there was a cumulative export decline of 14.1 percent. April and May proved to be particularly weak months - due to the far-reaching measures to combat the corona pandemic. Here exports missed their previous year's figure by around 28 percent. In June they fell less drastically as a result of the removal of travel and transport restrictions, although they fell by 12 percent compared to the previous year.
Russia with export growth in the first half of the year
In the second quarter of this year, machine exports from Germany to the EU-27 were 27.7 percent below the previous year's level. The export business with countries badly hit by the corona virus such as France (minus 28.2 percent), Italy (minus 31 percent), Spain (minus 32.1 percent) and the United Kingdom (minus 36.4 percent) was in this Period, as expected, particularly bad. In cumulative terms, the first six months of this year saw an export decline of 17.3 percent to the EU-27 partner countries. In the rest of Europe, 11.3 percent fewer machines were delivered in the same period. Above all, Russia stands out, as the only top customer country recorded an export increase of 4.5 percent in the first half of the year.
China could become the most important single market again
The export developments in the two most important individual markets, the USA and China, differ significantly. The machine exporters from Germany delivered 23 percent less to the United States in the second quarter than a year ago. Business in China, on the other hand, only decreased by 7.9 percent between April and June.