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The German Engineering Federation VDMA announced in Frankfurt this month that its 3,000 member companies sold engineering products worth EUR97.8 billion to foreign customers in 2004 that is an increase of 12% over the previous year.
The industry is benefiting from a growing demand particularly in India, the near and Middle East and Russia. The German share of the world engineering trade increased within one year from 19.1 to 19.3%; Japan's quota in 2004 was 13.3%, the USA came third with 12.4%.
According to the VDMA, Germany is the market leader in 21 out 31 branches of the world's engineering industry. In the power systems and engines sector, Germany's export volume in 2004 was EUR7.3billion, which represents one quarter of the world market total.
This is followed by printing and paper manufacturing machines (32% of German exports), lifts / conveyor installations (20%), and foodstuffs and packaging machinery (27%). The upward trend progressed in 2005 with exports rising by 8.9% between January and April.
The German engineering industry is very much dominated by highly innovative and flexible small and medium size, mostly family-owned enterprises. More than 70% of the VDMA member companies have fewer than 300 employees.
German engineering stays the national champion
Germany's engineering industry continues to be the world's number one exporter of machinery and industrial plant, with the Middle East at top market.
Germany: Saturday, July 23 - 2005 at 12:19
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Wolfram BielensteinSaturday, July 23 - 2005 at 12:19 UAE local time (GMT+4)
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This Article was updated on Saturday, March 10 - 2007
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