China Is No Longer the Most Important Export Partner

China has lost its status as Saxony’s most important export partner. In the first half of this year, the Free State exported goods worth a total of 1.9 billion euros to China—a 31 percent decrease compared to the same period last year, according to the State Statistical Office. 

According to the report, goods exported to China accounted for about 7 percent of Saxony’s total exports, which amounted to 26.2 billion euros. The Asian country, with its massive market, thus fell to third place as Saxony’s most important trading partner—behind the U.S. and the United Kingdom. “From 2009 to 2024, the People’s Republic had previously held the top spot uninterrupted,” according to the State Office.

Significant Drop in Auto Exports

The reason for the sharp decline was a drop in exports of cars and other automotive products. The value of these goods nearly halved to 760 million euros in the first six months of the current year.

At the same time, statisticians emphasized that the automotive industry is a major source of revenue and an important employer for Saxony. On average, approximately 37,000 people were employed by automobile and auto parts manufacturers in the first half of the year. The Saxon automotive industry generated 11.4 billion euros in revenue during the period in question. However, compared to the first six months of the previous year, this represented a decrease of about 7 percent in the number of employees and 10 percent in revenue. 

Imports on the Rise

Conversely, Saxony imported goods from China in the first half of the year with a total value of 2.56 billion euros, an increase of 8 percent compared to the same period last year. Overall, the value of goods imported into Saxony declined by 4 percent to 19.2 billion euros.