US Overtakes China as Germany’s Top Trading Partner

In the first half of 2024, the United States has overtaken China as Germany’s largest trading partner, according to preliminary data from the German statistics office. The total trade volume between Germany and the US reached approximately 127 billion euros ($139 billion), surpassing the 122 billion euros in trade with China.
This shift marks a significant change from 2023, when China had been Germany’s top trading partner for eight consecutive years. The transition reflects Berlin’s efforts to reduce its economic reliance on Beijing amid ongoing geopolitical tensions and criticisms of China’s trade practices.
Lola Machleid, a foreign trade expert at the German Chamber of Industry and Commerce (DIHK), noted that the robust performance of the US economy has been a key factor in boosting German exports. In the first six months of 2024, German exports to the US increased by 3.3% to nearly 81 billion euros. In contrast, trade with China saw a decline, with German exports shrinking by nearly 3% to just over 48 billion euros.
Imports from China fell by nearly 8% to 73.5 billion euros, while imports from the US decreased by 3.4% to 46.1 billion euros. The decrease in imports from the US was partly offset by supplies of energy commodities.
Machleid highlighted the unpredictability of future trade dynamics, given the ongoing geopolitical uncertainties and the uncertain economic outlook in both the US and China, as well as in Germany itself.
The shift in trading patterns underscores the evolving landscape of international trade and the impact of global economic and political developments.