BERLIN, Sept. 20 (Xinhua) -- The volume of goods exported by the German electronics industry has continued to soar in 2018 in spite of global trade conflicts, according to a study published on Thursday by the country's Central Association of the Electrical Engineering and Electronic Industries (ZVEI).
According to the study, the industry sold goods worth 17 billion euros (19.9 billion U.S. dollars) to international customers in July alone. The figure marked an 8.6-percent increase compared to the same period last year and the highest ever monthly reading recorded by ZVEI.
Companies represented by ZVEI achieved a new exporting recorded for the period of the first seven months of 2018 as well. International sales rose by an annual rate of 4.9 percent to a total of 119.1 billion euros, the highest ever volume witnessed between January and July.
So far this year, electronics exports to the Eurozone are up by five percent at 76.2 billion euros compared to a 4.7 percent increase to a total of 42.9 billion euros for non-Eurozone countries.
China remained the single largest export destination for German electronics firms, accounting for 12.1 billion euros (plus 15.5 percent) worth of sales between January and July.
By contrast, sales in the United States, the second largest export destination, developed more sluggishly in the wake of protectionist measures adopted by U.S. President Donald Trump. Exports only grew slightly by 0.3 to 10 billion euros since the start of the year.
A fall in exports was only recorded in a few markets by ZVEI, including Russia, Turkey, South Korea and Mexico.
