Industry

SAXONY’S INDUSTRY IS GROWING

In 2017, Saxony's industry (enterprises with 20 and more persons employed in the manufacturing trade as well as in mining and quarrying) generated a total turnover of 67.4 billion euros; this exceeded the previous year’s value by 5.6 percent. Domestic business, thus, increased by 4.8 percent, foreign sales by 6.2 percent. The export rate, i.e. the proportion of foreign sales of the total turnover, amounted to 39.8 percent (previous year: 37.0 percent).

The most important industrial branch continues to be the automobile industry with a share of 27.0 percent of all sales. It is followed by the metal production sector with a 13.0 percent share, machine construction with a 12.6 percent share, as well as by the electrical engineering / microelectronics branches with a share of 11.6 percent of Saxony's industrial turnover.

PRODUCTS OF SAXONY’S INDUSTRY IN GREAT DEMAND ABROAD

With a 36.5 percent share in foreign sales, products of the automobile industry continue to be Saxony’s most important export goods. Their sales to foreign countries have more than doubled over the past ten years. In 2017, foreign sales in the automobile industry amounted to a total of about 9.2 billion euros. The main customers were the United States of America and China.

The export business in machine construction increased to approximately 4.3 billion euros; 7.8 percent more than in 2016. When it comes to the manufacture of computers, electronic and optical products, the volume of transactions completed with foreign customers reached almost 3.1 billion euros. And when it comes to the metal production, there was an increase of 10.5 percent to about 2.1 billion euros.

Similar to the previous years, the four above mentioned business sectors accounted for considerably more than two thirds of all foreign sales generated by Saxony’s industry.