US Overtakes China as Germany’s Largest Trading Partner

(ots) - Exports to the United States have propelled the US to the top of the list of Germany's business partners.

According to calculations by Germany Trade & Invest, Germany’s international business promotion agency, trade between Germany and the US reached €255 billion in 2024, marking an annual increase of 0.8%. Meanwhile, trade with China decreased by 2.9%, falling to €247 billion. This is the first time since 2016 that China is no longer Germany’s largest trading partner.

While Germany continues to import more from China than any other country, it now exports the most goods to the US, followed by France, the Netherlands, Poland, and then China. As recently as 2022, Germany's trade with China totaled nearly €300 billion.

The decline in the share of German exports to China reflects both economic challenges in China and the long-term strengthen of US-German economic ties. Additionally, it highlights a shift in priorities within Europe’s largest economy.

"Germany is focused on economic diversification and resilience," says Robert Hermann, CEO of Germany Trade & Invest. "Germany, for instance, is now pursuing what’s been called the 'China plus X' strategy to avoid becoming overly dependent on any single trading partner. While Germany remains committed to economic internationalism, it is also attentive to its own needs, creating an additional advantage for companies expanding to the German market."

Germany Trade & Invest is the German government agency for international business promotion and is owned by the Ministry for Economic Affairs and Climate Action. It helps international companies do business in Germany and German companies do business abroad.

Contact:

Jefferson Chase, Senior Communications Manager, Germany Trade & Invest, Friedrichstrasse 60, 10115 Berlin, Germany.
jefferson.chase(at)gtai.de
+49 30 200099170


Original-Content von: Germany Trade & Invest, übermittelt durch news aktuell

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Datum: 20.01.2025 - 13:26 Uhr
Sprache: Deutsch
News-ID 716608
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