US surpasses China as Germany's top trading partner in Q1, with trade volume at €63bn ($68bn).
The US has become Germany's top trading partner for the first time in Q1, with trade volume at €63bn ($68bn), surpassing China's €59.5bn. This shift is attributed to Germany's exports to the US increasing due to a robust economy, while exports to and imports from China have decreased. Additionally, China has moved up the value chain ladder, now producing more complex goods it previously imported from Germany.
May 09, 2024
4 Articles