Saxony's economy comes to a standstill

Less turnover, fewer orders: Saxony's industry cannot chalk up 2024 as a good year. The total turnover of companies that are relevant for official statistics amounted to 75.1 billion euros, according to the State Statistical Office. In relation to the previous year, turnover fell by 4 percent, in real terms - i.e. price-adjusted - by almost 5 percent (nationwide: minus 4 percent).

Export ratio reached all-time high

"An above-average real decline of almost 8 percent was seen in domestic turnover (43.1 billion euros). This was offset by a price-adjusted decline of 1 percent in foreign business (32.1 billion euros)," it said. As a result, the export ratio - the share of foreign sales in total sales - rose to almost 43 percent (Germany: 52 percent) and thus reached a new high.

By industry sector, the automotive industry and its suppliers generated the most sales (24.2 billion euros). This was followed at a considerable distance by mechanical engineering (8.2 billion euros) and companies producing food and animal feed (6.0 billion euros).

Incoming orders down

Incoming orders in Saxony's industry were even less favorable in 2024 compared to the previous year, falling by around 7 percent in real terms (Germany: minus 3 percent) and declining for the third year in a row. With the exception of the "manufacture of paper, cardboard and articles thereof" sector, all reportable economic sectors fell short of the figures, in some cases significantly.

The statistics include data from 1,275 reportable companies - all of which have more than 50 employees. A total of 235,000 people work in these companies.