Germany remained the export powerhouse of Europe in 2017, shipping €1.235tn-worth of goods across the planet, a rise of 7.8% from 2016.
Behind “Vehicles”, the second and third largest export categories were “Machinery including computers” and “Electrical machinery, equipment,” which accounted for 17% and 10.3% of exports respectively. With consumer electronics and household appliances contained within these categories, Germany continues to generate massive global sales in the CE sector. Nearly 66% of German exports went to EU countries, while over 18% were sold in the Asian market, despite a slight slowdown in the Chinese economy.,
While exports continue to grow, German domestic revenue in the consumer electronics segment is also set to expand from roughly €14.1bn in 2018 to $18.4bn in 2022, according to business intelligence website, Statistica.
This near 7% growth is typical of an industry that is “supported by innovation and added value,” noted the latest report on the German CE market by Euromonitor International. “Consumer electronics in Germany remained a highly innovation-driven market in 2018,” the report went on.
GERMANY CONTINUES TO GENERATE MASSIVE GLOBAL SALES IN THE CE SECTOR
Germany’s renown for technological innovation is supported by its standing as the world’s largest per capita patent applicant abroad. In 2016, Germany applied for 75,378 patents abroad, a year-on-year increase at a time when the top two applicants by volume, the US and Japan, made a decreasing number of applications.
Indeed, Germany made the second largest number of applications (behind the US) to the European Patent Office in 2017, which overall received a record 166,000 patent applications, 3.9% more than the previous year. While Chinese company Huawei topped the list of individual companies making patent applications in Europe, German technological and engineering giant Siemens ranked second, an unmatched rise of four places that put it ahead of LG and Samsung.
Photo: Bosch home appliances typify a strong German CE market.