WASHINGTON: The United States overtook China as Germany’s most important trading partner in the first quarter of the current year.
The data revealed that Germany’s trade with the US – exports and imports combined – equaled 63 billion euros (68 billion dollars) from January to March, while the figure for China was just under sixty billion euros, according to US media.
In 2023, China was Germany’s top trading partner for the 8th year in a row, with volumes reaching 253 billion euros, although that was only a few hundred million ahead of the United States.
Germany has said it wanted to reduce its exposure to China, citing political differences and accusing Beijing in its first China strategy announcement in 2023 of “unfair practices”. But Berlin has been vague on policy measures to reduce dependencies.
German Imports Fell
German imports of goods from China fell almost 12 percent year-on-year in the first quarter, while exports of goods to China fell just over 1 percent, said Juergen Matthes, from German economic institute IW.
The US now accounts for around 10 percent of German goods exports. China’s share has fallen to less than percent.
