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.

Aumann Limbach-Oberfrohna GmbH (Source: Aumann)

Infomodul

Facts About Saxony's Economy (2022)

  • 146,500 million €

    GDP
  • 83,600 million €

    industrial turnover
  • 37.6 %

    export rate (industry)
Graphic: Saxony's GDP 1991 - 2022 (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 most important export partners in 2023 (Source: Statistical Office of the Federal State of Saxony)

Saxony's Most Important Export Partners

China remains Saxony's largest export partner worldwide in 2023. Compared to the previous year, however, there was a 25 percent reduction in deliveries to China to 6,459 million euros. Exports to the neighboring Czech Republic also fell particularly sharply - by 27 percent to 2,579 million euros - dropping it to fifth place among Saxony's most important export partners. Third place is now occupied by the UK. The USA remains in second place with an export value of 4,651 million euros.

Graphic: Saxony's Most Important Import Partners 2023 (Source: Statistical Office of the Federal State of Saxony)

Saxony's Most Important Import Partners

Contrary to the overall German trend (-10.1 percent), Saxony's imports rose to 36,000 million euros in 2023, a nominal increase of two percent compared to the previous year. This is the highest value that Saxony's imports have ever reached. With nominal growth of 19 percent to 4,430 million euros, China now takes the top spot in the ranking of Saxony's import partners. It is followed by the Czech Republic (4,201 million euros) and Poland (3,231 million euros).

Contact

Lienig Dr., Uwe

Lienig Dr., Uwe

Dr. Uwe Lienig

Industry, Innovation & Marketing

+49-351-2138 201

+49-351-2138 201
Lippert, Andreas

Lippert, Andreas

Andreas Lippert

Investor Services

+49-351-2138 211

+49-351-2138 211