German machinery manufacturing industry has grown for three consecutive years
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Exports are the only driving force behind the continued growth of the German machinery and equipment industry. In 2005, German machinery exports broke through the 100 billion euro mark for the first time, reaching 107 billion euros, an increase of 7.7% over 2004 (97.8 billion). However, exports to East Asia and Southeast Asia have declined, with exports to China falling by 1% and exports to China accounting for 50% of Germany's exports to the region. However, exports to India have sprung up. In 2005, Germany’s machinery exports to India increased by nearly 50%. At present, India ranks 20th among the important German machinery export customers, 4 places ahead of the previous year.
With the launch of investment activities, there was also a good indication of the demand for machinery in Germany in 2005. The German Machinery Manufacturers Association predicts that domestic sales in the industry will increase by 2% in 2006, and domestic sales in the industry increased by 12% from 2004 to 2006.