Eng
In 2024, for the first time in eight years China hasn't become Germany's main trading partner, according to the German Federal Statistical Office (Destatis). Trade between these countries for the past year dropped by 3.1% to €246.3 billion. As a result, the USA took the first place in mutual trade with €252.7 billion.
It is worth noting that Chinese imports to Germany in 2024 went down insignificantly by 0.3% to €156.3 billion. German exports to P.R. China dropped more noticeable by 7.6% to €90 billion. This was the reason for a significant reduction in trade turnover between the countries.
In many ways such dynamics can be explained by small demand in China itself. However, the reduction of export to the P.R. China can also be associated with re-targeting of German supplies to the markets of "politically close" economies. The experts of the WTO, UNCTAD and other international organisations have been reviewing the increasing influence of political factors on trade relations since 2023.