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Excerpt from www.deccanherald.com
Berlin: The United States overtook China as Germany’s most important trading partner in the first quarter of this year, according to Reuters’ calculations based on official data from the German statistics office.
Germany’s trade with the United States – exports and imports combined – totalled €63 billion ($68 billion) from January to March, while the figure for China was just under 60 billion euros, the data showed.
In 2023, China was Germany’s top trading partner for the eighth year in a row, with volumes reaching 253 billion euros, although that was only a few hundred million ahead of the US.
“German exports to the US have now risen further due to the robust economy there, while both exports to and imports from China have fallen,” said Commerzbank economist Vincent Stamer, explaining the first quarter shift.
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