Industry

SAXONY’S INDUSTRY IS GROWING

In 2020, 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 63,475 million euros; this fell below the previous year’s value by 6.1 percent. Domestic business, thus, decreased by 0.9 percent, foreign sales by 7.5 percent. The export rate, i.e. the proportion of foreign sales of the total turnover, amounted to 37.5 percent (previous year: 36.7 percent).

The most important industrial branch continues to be the automobile industry with a share of 24.9 percent of all sales. It is followed by the metal production sector and the electrical engineering / microelectronics branches with a share of 13 percent respectively 12.6 percent, as well as by machine construction with a share of 11.5 percent of Saxony's industrial turnover.

PRODUCTS OF SAXONY’S INDUSTRY IN GREAT DEMAND ABROAD

With a 33.8 percent share in foreign sales, products of the automobile industry continue to be Saxony’s most important export goods. In 2020, foreign sales in the automobile industry amounted to a total of about 7,538 million euros. The main customers were China, the United States of America, and UK.

The foreign sales in machine construction decreased to approximately 3,375 million euros; 27 percent less than in 2019. When it comes to the manufacture of computers, electronic and optical products, the volume of transactions completed with foreign customers reached 2,834 million euros (-9.6 percent compared to 2019). And when it comes to the metal production, there was a decrease of 4.9 percent to about 2,001 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.