US set to overtake China as Germany's top trade partner -DIHK (www.reuters.com)

submitted 5 months ago by MicroWave@lemmy.world to c/world@lemmy.world

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The United States is set to overtake China as Germany's most important trade partner by 2025 at the latest if current trends continue, according to the head of foreign trade at the German Chamber of Industry and Commerce (DIHK).

German exports and imports to China together totalled around 253 billion euros ($272 billion) last year, according to calculations by Reuters based on preliminary data from the Federal Statistics Office.

That means China would remain the number one trade partner of Europe's largest economy for the eighth consecutive year, but only by a hair: Trade volume with the U.S. was tallied at 252.3 billion euros.

Continuing growth in German exports to the U.S. is the main reason for the latter's ascendance, with goods worth almost 158 billion euros sent across the Atlantic last year, increasing the U.S. share of Germany's total exports to around 10%.

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[-] febra@lemmy.world 4 points 5 months ago* (last edited 5 months ago)

Diversifying is always good, but as someone living in Germany I'm seriously curious what we're importing. I don't remember seeing american products in the stores here.

EDIT: Nevermind, I just checked myself. It's german exports to US and China respectively. China doesn't import as much from Germany as the US does. The other way around Germany is still very dependent on Chinese products. I guess that makes sense with Chinese car brands overtaking German cars in the Chinese market.

this post was submitted on 12 Feb 2024

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