First Time
Chinese Export Exceeds German

Referring to Mechanical Engineering Industry Association of Germany (VDMA), DW reports that for the first time Chinese export of machinery to Russia exceeded the German one.

According to the data last year Chine delivered machinery amounted at 4.9 b euros (5.2 b dollars). At the same time the export from Germany valued at 4.4 b euros.

The magazine stresses that the tendency was predictable after the sanctions were imposed on Russia.

VDMA states: "It's clear that Chinese suppliers are benefiting at the moment. They don't have to struggle with any sanctions".

Also the magazine underlines, that annual Chinese export at the segment has increased by 70.3% for the year. This is the evidence that Chinese producers took the great advantage of the market niche, which opened up after the Western sanctions.

Source: Expert Online
Date: 12.04.2017