German Machine Tools Output Grew by 33% in 2011

German Machine Tool Builders’ Assocaition of German Engineering Federation in its latest report in Ferbruary indicated that the initial statistics of machine tool industry output in 2011 reached EUR12.05 billion, up 33% compared to 2010 which was mainly due to the strong demand of automobioles and machinery industry. The industrial production and capacity utilization rate of machine tool industry on average achieved 93.8%.

In 2011, German machine tool imports grew by 33% among which the import to China grew by about 43% and the import to North America (mainly the US) shot up 71%. The German domestic market sales also increased 38%, thus showing the optimistic economic trend and robust demand.

In addition, the orders of German machine tools industry reached EUR16.72 billion, up 45% among which the domestic market grew by 46% and the foreign market by 45%.