Tuesday, February 23, 2021

Money has no ideology: For the fifth year in a row, China is Germany’s main trading partner – News by sources


China was Germany’s most important trading partner in 2020, for the fifth consecutive year, according to data released by the Federal Statistical Office (Destatis), Xinhua reports.

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Despite the crisis caused by the coronavirus pandemic (COVID-19), Germany’s trade with the Asian state rose by 3% in 2020 to 212.1 billion euros.

Apart from China, Germany’s other important trading partners are the Netherlands and the United States. Compared to 2019, Germany’s exports to the Netherlands decreased by 8.7% last year, to 172.8 billion euros, and those to the USA registered a decline of 9.7%, to 171.6 billion euros.

Since 2015, China has been Germany’s most important import partner. Last year, goods worth 116.3 billion euros were imported from China to Germany, an increase of 5.6% over 2019.

In contrast, German imports from the Netherlands fell by 9.6% last year, while those from the US fell by 5%.

Since 2015, the United States is Germany’s largest export market, although last year exports fell 12.5% ​​to 103.8 billion euros, according to Destatis.

China is Germany’s second largest export market. In 2020, German exports to China fell by 0.1% to 95.9 billion euros.

According to data recently released by Eurostat, in 2020, China was the EU’s main trading partner, surpassing the US. This result is due to the increase in imports (plus 5.6%) and exports (plus 2.2%), while the relationship with the USA registered a significant decrease, both in imports (minus 13.2%) and and exports (minus 8.2%).





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