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November 20, 2019

China is largest trading partner of Germany in 2016

China tradeChina became the largest trading partner of Germany in 2016. The data of Commerce and Industry of Germany evaluated the overall volumes last year’s export-import operations. The total foreign trade volume between China and Germany reached about 145.3 billion USD in 2016, representing an increase of 2.6% from the previous year.

The USA lost the first place in this indicator, but also was overtaken by France for the second place, according to the assessment.

According to the Federal Statistical Office (Destatis), in 2015 China occupied fourth place as foreign trade partner of Germany, behind not only the US and France, but also of the Netherlands. Indeed, the Asian giant even then was the largest external supplier on the German market, but ranked fifth among the largest purchasers of German goods.

For now, USA remains the largest market for German products, but last year, Germany decreased its exports to the US market with more than 5%. According to the economists, if the growth of the US economy accelerates, the United States could again take at least second place among foreign trade partners of Germany. Of course, if the protectionist policy of Donald Trump do not change the game.

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