The number of companies in Germany's manufacturing sector has fallen by almost a fifth over the past 15 years, according to a study by Creditreform Economic Research published on Tuesday.
Although industrial companies accounted for 7.8% of the overall German economy in 2010, this figure had fallen to just 6.6% by 2024. The sharpest declines were recorded in the printing and media sector, the metal industry and the clothing sector.
The study does not provide any figures on other economic indicators, such as value added or employment.
"Germany is undergoing a quiet restructuring of its SME economic structure," said Patrik-Ludwig Hantzsch, head of Creditreform Economic Research.
The structural change is having a negative impact on industry, which traditionally stands for productivity gains, innovation and export strength.
While the number of businesses in the manufacturing sector declined, Creditreform found that services, specialized sectors and people-related activities grew.
In particular, caretaker services, energy supply and real estate and housing saw slight increases.
The number of businesses in various sectors was analysed for the years 2010 and 2024.
