According to Reuters, engineering exports to the United States from Germany are not happening at a fast pace this year. The reasons given are “lower fracking investments, a weaker global economy and a euro-dollar rate stabilisation” according to an industry association, that remained unnamed in the report.
More than half of German firms believe that these figures will improve later on in 2016, according to a survey conducted by the VDMA association. The VDMA is one of Europe’s leaders in industrial associations that presides over 3,100 member companies.
The VDMA reported that the improvement – if any – would not be able to eclipse the last measurement of an 11% rise in 2015.
The VDMA, in a statement, said, “The American market does not offer grounds for euphoria. But the engagement of German engineering firms in America is not short-term.”
Reuters reports that the U.S. was the largest market for engineering exports in 2015. The exports rose to $19.1 billion. China struggled due to a 6 percent drop.
Germany and the U.S. were also big trading partners, reaching one hundred twenty-nine billion three hundred forty-two million six hundred and ninety thousand dollars.
Furthermore, engineering jobs opening up in Germany, according to Reuters are:
…power train engineering, materials handling, construction equipment, agricultural engineering, machine tools, and food technology and packaging.