Figure of the week

VDMA

Nominal turnover of China's engineering industry increased by 5 percent in 2020, despite the Corona crisis.

In the first quarter of 2020, at the height of the Corona crisis in China, there was a decline in turnover of almost 21 percent. However, a strong recovery set in during the second quarter, with turnover increasing by around 15 percent year-on-year during this period. In the third and fourth quarters, the increase was also in the double digits at just under 12 percent and 11 percent respectively. Local production developed particularly positively in the following sectors: construction machinery, power systems, industrial robots and tractors in the higher size categories.

European exports to China in the period January to October 2020 are only 2 percent below the result of the same period last year. Strong growth can be observed in machinery for the semiconductor industry and the production of screens, drive technology, fluid power, engines and systems and agricultural machinery.

This and other up-to-date information on economic developments in the Chinese industry can be found in our quarterly publication "Mechanical Engineering in China at a Glance". If you are interested, please contact Mr. Benedict Jeske:

benedict.jeske@vdma.org

Tel. +49 69 6603 1389