The US overtakes China to become Germany's top trading partner - Reuters
Kyiv • UNN
In the first quarter of 2024, the United States overtook China to become Germany's top trading partner with a trade volume of 63 billion euros, while China's figure was just under 60 billion euros.
In the first quarter of this year, the United States overtook China as Germany's most important trading partner. This was reported by Reuters, citing official data from the German Statistical Office, UNN reports .
Details
According to the data, Germany's trade with the United States (exports and imports combined) amounted to €63 billion from January to March, while China's figure was just under €60 billion.
It is noted that in 2023, China was Germany's main trading partner for the eighth consecutive year with a volume of 253 billion euros, although this figure was only a few hundred million ahead of the United States.
German exports to the U.S. are now up even more thanks to the strong economy there, while both exports to and imports from China have fallen
It is noted that German imports of goods from China fell by almost 12% compared to the same period last year in the first quarter, while exports of goods to China fell by just over 1%, said Jürgen Mattes of the German economic institute IW.
The United States now accounts for about 10% of German exports. China's share has fallen to less than 6%.