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Saxony as economic region

composite image: cook, excavator and production hall

(© Fotolia)

The Free State of Saxony is one of the most dynamic states, and it has the highest employment density in Eastern Germany (except Berlin). Since 2000, Saxony’s economy has grown by 13.9% (status of March 2011), thus having the strongest economic growth of all states.

Small and Medium-sized Enterprises (SME) are the backbone of the Saxon economy. This strong SME-orientation is also confirmed by the R&D activities: 93% of all companies continuously doing R&D are SMEs.

Groups acting on an international level such as Globalfoundries (formerly AMD), Infineon, Siltronic and Applied Materials have turned Saxony into a centre of microelectronics. With more than 2,100 companies and 51,000 employees, the semiconductor and ICT industries, respectively, are an important pillar of the economy of the Free State.

With a rate of investment of 19% (2011) Saxony arrived at engaging as well medium-sized businesses with numerous investments as economically powerful, globally acting companies with individual major investments. Large-scale enterprises and medium-sized companies are closely interconnected.

Saxony offers skilled personnel qualified above average. One out of three labour forces holds a master certificate, a vocational school or a university of applied science degree, or a university degree. In former West-Germany this applies to only one out of four.
 

Marginalspalte

Gross domestic product

Gross domestic productIcon zoom in

Source: National accounting of the German states (2012): Gross domestic product per state 2011

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Source: SMWA

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