BERLIN — For the first time since 2015, the United States has emerged as Germany’s largest trading partner, overtaking China, according to recent official data. This shift comes in the wake of a decline in exports to the Asian nation. The Federal Statistical Office of Germany revealed on Wednesday that trade between Germany, the largest economy in Europe, and the U.S. grew slightly by 0.1%, reaching a total of 252.8 billion euros (approximately $264.3 billion) for the year.
In contrast, Germany’s trade with China fell by 3.1%, bringing the total to 246.3 billion euros. Additionally, the Netherlands ranked third in terms of trade volume with Germany, recording a 4.2% decrease to 205.7 billion euros.
Germany’s economy has faced stagnant growth over the past five years. Once a leader in global exports, particularly in engineered goods such as industrial machinery and luxury automobiles, the country is now grappling with intensified competition from Chinese businesses among other challenges. Consequently, the economy has contracted in the last two consecutive years.
Addressing these economic issues will be a crucial priority for the new government that will emerge following the German elections on Sunday. This administration will also have to consider the implications of trade policies under the newly established U.S. administration.
As for the trade relationship with the U.S., Germany’s trade surplus increased significantly, climbing to 70 billion euros last year from 63.3 billion euros in 2023. Exports to the U.S. rose by 2.2%, totaling 161.4 billion euros, while imports from the U.S. experienced a downturn of 3.4%, reaching 91.4 billion euros. The U.S. has consistently been Germany’s largest single export destination since 2015.
On the other hand, Germany’s trade deficit with China has grown, with imports from China dipping slightly by 0.3% to 156.3 billion euros. German exports to China saw a more significant decline of 7.6%, totaling 90 billion euros.
In an overview of total trade figures, Germany’s exports for the year amounted to 1.56 trillion euros, representing a 1.2% decrease compared to 2023. Meanwhile, imports from across the globe fell by 3% to 1.32 trillion euros.
