Saxony's foreign trade continued to grow in the first six months of this year. However, the growth has weakened significantly, as the Ministry of Economics in Dresden announced on request. According to the report, exports increased by three percent to 26.6 billion euros compared to the same period last year. In 2021, growth was still at 21.6 percent and in 2022 at 17.6 percent. However, it must be taken into account that in the two previous years, external influences such as Corona catch-up effects distorted the statistics and were only comparable to a limited extent, it said. The current result testifies to a robust Saxon economy despite the difficult economic environment.
According to the data, there have been some shifts in foreign trade partners, it said. Exports to China, for example, fell by 23 percent to 3.7 billion euros and were offset by increases in exports to other countries, it said. For example, it said, there was a 37 percent increase in exports to the United Kingdom in the first half of the year.
