International demand remains a major factor for on-going success.
Despite stark economic difficulties in the Eurozone, sales of German mechanical engineering products will rise a price-adjusted 4% to a new all-time high, according to Thomas Lindner, president of the German engineering federation VDMA.
Speaking at Germany's Machinery Construction Summit in Berlin, Linder said, "We expect record sales of €209 billion. That is the highest turnover ever for the mechanical engineering industry." Sales last year reached €201 billion, according to the federation.
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The expected increase in sales for 2012 follows a rollercoaster of predictions for German machinery and plant production over the past year. Initially, the VDMA expected engineering output to rise 4%, but the federation squelched sector optimism back in February by predicting no growth in 2012. Then in September a VDMA economist said production would increase 2% this year and next. Production last year came in at €187 billion.
According to the VDMA, international markets have been a boon to German producers. Exports as a percentage of sales have risen from 68% in 2002 to 75% last year.
Sourced from VDMA
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