The global business situation in the mechanical engineering sector remains mixed. While India and Brazil are impressing with good figures, China is struggling with structural challenges. The USA is characterized by the latest tariff policy.
In light of Trump’s tariffs, analysts highlight ASEAN’s risks from trade tensions but remain optimistic about the region's resilience. Singapore’s semiconductor industry stays cautious, exporters diversify suppliers and customers amid uncertainties.
With a liaison office for the ASEAN region, the VDMA aims to support European mechanical engineering in the region. Tiffany Ang has been representing the VDMA in the ASEAN region based in Singapore since January 6, 2025.
The economic data from China offers little cause for optimism: domestic consumption is growing slowly. The economic recovery is taking longer than expected. In the real estate sector, there is no hope of a short-term recovery in prices.
On October 28, the Russian central bank raised the key interest rate to 21 percent. At the same time, it indicated that the interest rate could soon rise even higher. The reasons are high inflation and the overheated economy.
The following summarizes the discussions with VDMA members' branches in Turkey and with Turkish mechanical engineering companies as well as the second meeting of VDMA members in Istanbul.
Uzbekistan's economy will grow by at least 5 percent over the next few years. Development programs and reforms are ensuring progress.
The VDMA Business Survey Q1/2025 ran from March 18 to 28, 2025 and received almost 1240 responses from 940 companies. The mood has brightened slightly. This is a snapshot in view of the latest tariff announcements by the USA.
