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Veröffentlicht mit publizer in Sachsen

Saxon SMEs are by far the most important employers

Symbolbild Dresden / pixabay Pozhidaeva
Symbolbild Dresden / pixabay Pozhidaeva

The Saxon Ministry of Economic Affairs has published the brochure "Saxony as a Location in Comparison with Other Regions 2022", which presents the state's development status in a German and European context. The report shows that Saxony is a leader in several areas, such as job density, SMEs, crafts and research.

With 508 employed persons per 1,000 inhabitants, Saxony has the highest job density among the eastern German states. Small and medium-sized enterprises, consisting of companies with sales of up to 50 million euros, generate 61 percent of the statewide sales and are the most important employers and trainers. At 13.9 businesses per 1,000 inhabitants, the density of skilled trades is above the German average and in fourth place among the German states.

The export ratio of over 33 percent testifies to the high level of innovation and competitiveness of Saxony's economy, well above the average of around 23 percent in the other new German states. Despite current challenges such as the Ukraine war, the Corona pandemic and supply chain bottlenecks, Economics Minister Martin Dulig believes Saxony is well equipped to master the structural change toward climate-friendly technologies.

The location report attests to Saxony's excellent infrastructure, due to its high investment rate. Road network density and broadband coverage are above the average for Germany as a whole. With an R&D expenditure share of 3.0 percent of gross domestic product, the Free State ranks seventh in a national comparison.