According to official figures released on Wednesday, the United States has emerged as Germany's largest single trading partner for the first time since 2015, surpassing China. Trade between the U.S. and Germany saw a slight increase of 0.1%, reaching 252.8 billion euros in 2024. In contrast, trade with China, which had been Germany's top trading partner from 2016 to 2023, experienced a decline of 3.1% to 246.3 billion euros. The Netherlands secured the third position with a total trade volume of 205.7 billion euros, marking a 4.2% decrease.
Germany, boasting Europe's largest economy, has faced stagnant economic growth over the past five years. The country, known for its exports of engineered products such as industrial machinery and luxury cars, has encountered challenges including heightened competition from Chinese firms. This has contributed to a contraction in the economy over the last two years.
Addressing these economic issues will be a critical task for the incoming government following the German election. The new administration will also need to navigate the evolving trade policies of the U.S. under its new leadership.
Germany's trade surplus with the U.S. expanded to 70 billion euros in 2024, up from 63.3 billion euros in 2023. While German exports to the U.S. rose by 2.2% to 161.4 billion euros, American imports decreased by 3.4% to 91.4 billion euros. The U.S. has been Germany's primary export destination since 2015.
Conversely, Germany witnessed a widening trade deficit with China. Chinese imports dropped by 0.3% to 156.3 billion euros, while German exports to China fell by 7.6% to 90 billion euros.
Overall, German exports totaled 1.56 trillion euros in 2024, reflecting a 1.2% decline compared to the previous year. Imports from various countries worldwide also decreased by 3% to 1.32 trillion euros.
