Germany's electrical imports from China rise 25 pct in July: ZVEI-Xinhua

Germany's electrical imports from China rise 25 pct in July: ZVEI

Source: Xinhua| 2022-09-16 00:25:30|Editor: huaxia

BERLIN, Sept. 15 (Xinhua) -- Electrical imports from China to Germany in July increased by 25 percent year-on-year to 6.6 billion euros (6.6 billion U.S. dollars), the German Electro and Digital Industry (ZVEI) said on Thursday.

China remained the most important export and import country for the German electronics industry, according to ZVEI. Electrical exports from Europe's largest economy to China were up 5 percent to 2.3 billion euros in the month.

Total imports of electrical and electronic products rose by 21 percent in July to reach 20.2 billion euros in Germany, although exports only increased by 8 percent to 19.5 billion euros, according to ZVEI.

"For four consecutive months, imports have been higher than exports in absolute terms," said ZVEI chief economist Andreas Gontermann.

For the full year 2022, the industry is expecting an import surplus, due to substantial differences between imports and exports that were accumulated earlier this year. "That would be the first time this millennium," Gontermann added.

Although Germany's total trade volume fell in July, the long-term comparison with figures from previous years still shows a "positive development," the Federation of German Wholesale, Foreign Trade and Services (BGA) said earlier this month.