Manufacturers of building fittings are also facing difficult months in 2024. Last year, they recorded a nominal decline in sales of 7 percent, which corresponds to a price-adjusted decline of 14 percent. This is shown by the latest VDMA figures. Domestic business fell by 11 percent in real terms, while foreign business, which had grown by 1 percent in 2022, slumped by 17 percent in 2023.
German exports of building fittings fell by 5.1 percent to a total of 3.5 billion euros. The list of the top 10 sales countries was headed by France. Exports to the neighbouring country rose by 3.0 percent to 399.9 million euros. The USA came in second place. Exports to the USA increased by 5.3 percent to 355.5 million euros. In contrast to the previous year, exports to China fell significantly. Against the backdrop of the gloomy outlook for the construction industry in the People's Republic, German exports to China fell by 16.1 percent to 340.7 million euros.
Despite falling inflation and rising disposable incomes, consumers and investors in Germany are still unsettled. Consumer confidence remains at an all-time low. The prospects for the building fittings industry are cautious in view of the continuing decline in incoming orders at the start of the year.
“The VDMA Valves currently expects the situation to gradually improve over the course of the year. However, we are forecasting a further decline in sales of 2 percent for 2024 as a whole”, says Dr Laura Dorfer, Managing Director of the VDMA Valves Association.
