The United States overtook China as Germany’s most important trading partner in the first quarter of 2024, according to official data.
It is reported Reuters, citing official data from the German statistical office
Trade between Germany and the US was 63 billion euros between January and March, while China’s figure was just under 60 billion euros. This marks a significant change, as China has been Germany’s main trading partner for eight consecutive years.
Experts attribute the change to a number of factors, including a strong US economy and falling exports and imports from China.
German imports of goods from China fell by almost 12% year-on-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.
