Industry

SAXONY’S INDUSTRY IS GROWING

In 2019, Saxony's industry (results for enterprises with 20 and more persons employed in the manufacturing trade as well as in mining and quarrying) generated a total turnover of 67,562 million euros; this fell below the previous year’s value by 1.5 percent. Domestic business, thus, decreased by 1.1 percent, foreign sales by 2.3 percent. The export rate, i.e. the proportion of foreign sales of the total turnover, amounted to 36.7 percent (previous year: 37 percent).

The most important industrial branch continues to be the automobile industry with a share of 25.2 percent of all sales. It is followed by machine construction and the metal production sector with a 13.2 percent share each, as well as by the electrical engineering / microelectronics branches with a share of 12 percent of Saxony's industrial turnover.

PRODUCTS OF SAXONY’S INDUSTRY IN GREAT DEMAND ABROAD

With a 34.2 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 2019, foreign sales in the automobile industry amounted to a total of about 8,482 million euros. The main customers were China and the United States of America.

The foreign sales in machine construction increased to approximately 4,638 million euros; 5.3 percent more than in 2018. When it comes to the manufacture of computers, electronic and optical products, the volume of transactions completed with foreign customers reached 3,136 million euros (+3,5 percent compared to 2018). And when it comes to the metal production, there was a decrease of 8.6 percent to about 2,104 million euros.

Similar to the previous years, the four above mentioned business sectors accounted for almost three quarters of all foreign sales generated by Saxony’s industry.