FRANKFURT, Aug. 21 (Xinhua) -- The export momentum of Germany's mechanical engineering sector has slowed considerably, affected by global trade conflicts and an increasingly weak economy, the German Mechanical Engineering Industry Association (VDMA) announced on Wednesday.
The association cited data from the Federal Statistical Office, which showed machine deliveries in the first six months this year increased only by a nominal 0.9 percent to 89.2 billion euros (about 99 billion U.S. dollars) from the same period last year.
In adjusted terms, exports of mechanical engineering companies increased by 3.8 percent in the first quarter but recorded a decline of 1.8 percent to 44.7 billion euros in the second quarter, the VDMA said.
"The uncertainty caused in particular by the trade dispute between the U.S. and China and the lack of any prospect of an agreement in the Brexit dispute are damaging our export-oriented industry," VDMA Chief Economist Ralph Wiechers wrote in a note.
Wiechers also noted a decline in investment activity in China and the United Kingdom, especially in machinery and equipment, as well as a slowing pace of expansion in the United States.
From January to June, exports to the United States rose by 7.8 percent to 9.96 billion euros, accounting for 11.2 percent of the total German machinery exports. Over the same period, exports to China increased by 0.6 percent to 9.72 billion euros, giving China a 10.4 percent share of total exports, according to the VDMA.
The association also noted that exports to Japan continued to develop positively, registering a 12-percent increase to 1.49 billion euros in the first six months.
