Germany’s VDMA says engineering exports in 2019 were down 1.5% y/y in real terms

Sees further decline in exports as being likely for 2020

  • Coronavirus impact on global exports cannot yet be estimated
  • Virus risk will not change importance of Chinese market for our industry
  • Political turmoil surrounding Brexit has had significant impact on exports to UK


Even if the coronavirus outbreak is to have some minor impact, it may be significant considering how fragile the German industrial sector currently is. And the fact that post-Brexit trade remains a blank space for now, the outlook is still a bit shaky.

We’ll have to see how things play out but for now, most industries are still taking the virus headlines and its potential impact in stride – besides that Apple warning earlier this week.