Economic Power

The industrial age began in Saxony as early as the 18th century with the establishment of the first mechanical engineering companies. The economy in Saxony has grown by over 30 percent since 2000, recording one of the highest GDP growth rates of any federal state.

GDP Saxony's Export Partners Saxony's Import Partners Industry Diversity & Innovation Contact

Aumann Limbach-Oberfrohna GmbH (Source: Aumann)

Facts About Saxony's Economy (2024)

162,000 million €

GDP
82,385 million €

industrial turnover
40.1 %

export rate (industry)

Graphic: Saxony's GDP 1991 - 2024 (Source: Statistical Office of the Federal State of Saxony)

Dynamic Development Underway

Since 2000, Saxony’s economy has increased by more than 30 percent; it, thus, exhibits one of the highest GDP growth rates among all German federal states.

Graphic: Saxony's GDP 1991 - 2024 (Source: Statistical Office of the Federal State of Saxony) (pdf, 19 KB)

Saxony's Most Important Export Partners

Saxony’s foreign trade reached an export volume of 51,149 million euros in 2024. Compared to 2023, this equals an increase of 2 percent. China remains Saxony's largest export partner worldwide in 2024. Compared to the previous year, however, there was a 7 percent reduction in deliveries to China to 6,026 million euros. Exports to the neighboring Czech Republic increased particularly sharply - by 16 percent to 3,028 million euros - rising it to fourth place among Saxony's most important export partners. Third place is occupied by the UK. The USA remains in second place with a growth of 10 percent to 5,081 million euros in export value.

Graphic: Saxony's most important export partners in 2024 (Source: Statistical Office of the Federal State of Saxony) (pdf, 15 KB)

Saxony's Most Important Import Partners

Saxony’s foreign trade reached an import volume of 34,818 million euros in 2024, a nominal decrease of four percent compared to the previous year. China takes the top spot in the ranking of Saxony's import partners for the second time. It is followed by the Czech Republic (4,477 million euros) and Poland (3,145 million euros).

Graphic: Saxony's Most Important Import Partners 2024 (Source: Statistical Office of the Federal State of Saxony) (pdf, 13 KB)