Germany’s second largest trading partner was the USA, with a trade volume of 247.8 billion euros, while the third place was occupied by the neighboring Netherlands.
THE China remained o largest trading partner her Germany for the seventh consecutive year in 2022according to the data released yesterday Thursday by the Federal Statistics Service (Destatis).
Goods of Chinese origin imported into Europe’s largest economy in 2022 rose by 33.6% to reach 191.1 billion euros in value, according to Destatis. At the same time, German exports to China registered an increase of 3.1%, reaching 106.8 billion euros.
Germany’s second largest trading partner was the USA, with a trade volume of 247.8 billion euros, while the third place was occupied by the neighboring Netherlands.
For many key German industries, trade with China remained critical. Exports of electrical and electronic goods to China increased by 5.5% to 26.5 billion euros, while conversely imports from China increased by 23.5% to 84.4 billion euros, according to ZVEI. industry association.
Many goods imported from China are “out of the blue for the German economy”, the Kiel Institute for the World Economy (IfW) analyzed earlier this week. Electronics, for example laptops, take up the lion’s share, around 80%.
Besides, 85% of German imports of rare earths or raw materials come from China. Germany also has a high degree of dependence on China for the import of medical supplies, especially painkillers and breathing masks, according to the institute.
Source :Skai
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