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This information was provided by the German government agency, Germany Trade and Invest (GTAI) on January 20. As per its computations, the trade volume between Germany and the United States rose by 0.8% last year, totaling €255 billion, whereas Germany's trade volume with China fell by 2.9% to €247 billion.
China continues to be the top source of imports for Germany, whereas Germany's exports from China have dropped to fifth place, trailing behind the US, France, the Netherlands, and Poland. GTAI links this to "China's economic challenges and the sustained enhancement of German-US economic relations" along with "a change in the focus of Europe's largest economy."
GTAI Director General Robert Hermann stated that "Germany seeks economic diversification and sustainability," aligning with "the 'China plus X' strategy to prevent excessive reliance on a single trading partner."
source: dw.de
China continues to be the top source of imports for Germany, whereas Germany's exports from China have dropped to fifth place, trailing behind the US, France, the Netherlands, and Poland. GTAI links this to "China's economic challenges and the sustained enhancement of German-US economic relations" along with "a change in the focus of Europe's largest economy."
GTAI Director General Robert Hermann stated that "Germany seeks economic diversification and sustainability," aligning with "the 'China plus X' strategy to prevent excessive reliance on a single trading partner."
source: dw.de
