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German industrial production collapsed in 2020

by alex

German industrial production collapsed in 2020

Important auto industry had to give up a lot

In 2020, German industry produced a good tenth less due to the corona. The production was price and calendar adjusted 10.8 percent lower than 2019, as the Federal Statistical Office announced on Monday. During the first phase of the corona restrictions in April and May, it collapsed by 29.7 and 23.4 percent respectively, after which it began to recover.

In December, the backlog in industrial production compared to the same month last year was only 1.5 percent. “The only branch of the economy in which production has increased year-on-year was the wood industry,” stated the statistics office. The production of wood, wicker, wicker and cork goods – excluding furniture – increased by 3.1 percent.

The slump in the past year was particularly severe in the automotive industry: the manufacturers of cars and auto parts produced a quarter less than in the previous year. In terms of sales, the automotive industry is Germany's most important branch of industry: the around 809,000 people in employment in 968 companies with more than 50 employees generated revenues totaling 379.3 billion euros in 2020.

The mechanical engineering industry produced 13.8 percent less, while the metal industry saw a decline of 13.3 percent. The factories that manufacture clothing were also severely affected by the corona pandemic: They produced a fifth less. There was comparatively little decline in production in the food and feed industry and the chemical industry with 2.8 and 1.1 percent respectively.

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