Germany's electrical industry has made remarkable achievements in 2021 and is optimistic about the new year. This is the result announced by the German electronic and Electrical Industry Association (ZVEI) at a press conference on the 24th: the production of the industry increased by nearly 9% from January to November 2021, and the turnover increased by nearly 10% in the same period. It is estimated that the overall sales of the industry will reach 200 billion euros for the first time last year.
Gunther kergel, President of the association, said: "this is one of the few industries that can make up for the losses of the previous year."
Almost all sub sectors of the German electrical industry have achieved positive development. For example, the battery industry has experienced strong growth of about 40%. The agency said this was due to the growth of electric vehicles. At the same time, the home appliance industry is also booming. The industry benefited from increased exports to China (up 8%), the United States (up 9%) and Europe. The German electrical industry exported two-thirds of its products to other European countries, achieving double-digit growth.
Like many other industries, the industry is plagued by supply and delivery problems. If there is no delivery bottleneck, the Association estimates that last year's sales may increase significantly, or break through the 200 billion euro mark.
Despite delivery problems, the Association expects production to increase by 4% this year. How high the final growth depends on the availability of the initial product. If we can quickly solve the high order backlog, the growth may be higher.
"The shortage of chips has made the world nervous. But the German electrical industry is at full speed and is rapidly recovering from COVID-19. These positive figures show the dynamism of the German electric industry and the attractiveness of Germany as an investment destination." Robert Hermann, general manager of the German Federal Foreign Trade and investment agency, told China news finance.
