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 (2022)

156,000 million €

GDP
85,850 million €

industrial turnover
38.4 %

export rate (industry)

Graphic: Saxony's GDP 1991 - 2023 (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 - 2023 (Source: Statistical Office of the Federal State of Saxony) (pdf, 18 KB)

Saxony's Most Important Export Partners

Saxony’s foreign trade reached an export volume of 49,700 million euros in 2023. Compared to 2022, this equals an decrease of 7 percent. 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 export partners in 2023 (Source: Statistical Office of the Federal State of Saxony) (pdf, 123 KB)

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).

Graphic: Saxony's Most Important Import Partners 2023 (Source: Statistical Office of the Federal State of Saxony) (pdf, 125 KB)