In 2022, Saxon companies increased their exports to a record level. They increased their exports by 17% to 52.7 billion euros. The Saxony Economic Development Corporation (WFS) announced that the development was not only due to higher prices. China remained the most important export market with 8.7 billion euros, followed by the U.S. with 5 billion euros and the Czech Republic with 3.5 billion euros. One third of income was earned abroad. Most imports came from the Czech Republic (4.3 billion euros) and China (3.5 billion euros).
Despite difficult conditions, there were no slumps last year. The Minister of Economics, Martin Dulig, said that the economy was more resilient than many had assumed. Saxony, he said, was one of the most attractive countries to settle in and did not have to hide worldwide. Last year, he said, there were 16 relocations and expansions worth nearly 690 million euros, resulting in 1265 new jobs. Investors came from Germany, the United Kingdom, Finland, Australia and Japan.
