China Has Become Germany's Most Important Trading Partner for the Fifth Consecutive Year

China Has Become Germany's Most Important Trading Partner for the Fifth Consecutive Year

Data released by the German Federal Statistics Office on the 22nd showed that despite the impact of the new crown epidemic, the total bilateral trade between China and Germany in 2020 increased by 3% year-on-year to approximately 212.1 billion euros. China has become Germany's most important trading partner for the fifth consecutive year.

　　Data shows that in 2020, Germany’s imports from China are about 116.3 billion euros, an increase of 5.6% over 2019; exports to China are about 95.9 billion euros. The total bilateral trade between the Netherlands and Germany, and the United States and Germany ranked second and third, with 172.8 billion euros and 171.6 billion euros, respectively, a year-on-year decrease of 8.7% and 9.7%.

　　 In the past few decades, in the ranking of Germany's most important sources of imports, China ranked 35th in 1980 and rose to 14th in 1990. Since 2015, China has been the country with the most imported products from Germany.

In an interview with Xinhua News Agency reporter, Christina Otte, an expert on China at the German Federal Agency for Foreign Trade and Investment, said that China is Germany’s second largest export destination country in 2020, and the gap between Germany’s largest export destination country, the United States, is further Zoom out. China's economic recovery is faster than expected, which is "good news" for the German economy.