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German exports and imports to China together totaled 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%.
"At the moment there are no signs of a significant increase in
demand for products made in Germany from China," the DIHK's
Volker Treier told Reuters in emailed comments.
Deliveries to China fell by almost 9% to roughly 97 billion
euros, with cars and chemical products particularly down, while
imports fell by almost a fifth, to just under 156 billion euros.
German leaders have warned companies of the risks of relying too
heavily on China and urged them to diversify their business away
from what they refer to as the "partner, competitor and systemic
rival".
Since 2015, the United States has been the most important export
market for the German economy, which has made enormous direct
investments there.
"The economy in the U.S. is currently doing significantly better
than in many other important sales markets for the German
economy, such as the countries in the EU," said Treier.
"Ultimately, German exports also benefit from the strength and
attractiveness of the U.S. economy."
($1 = 0.9289 euros)
(Reporting by Rene Wagner; Writing by Miranda Murray; Editing by
Rachel More and Mark Heinrich)
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