Strong plus – record in trade with China – economy

Despite all the political warnings about over-dependence, German business trade with China rose to a record high last year. Goods worth around 298 billion euros were traded between the two countries. This is growth of around 21 percent compared to 2021, according to data from the Federal Statistical Office. The People’s Republic thus remained Germany’s most important trading partner for the seventh year in a row, followed by the USA (around 248 billion euros) and the Netherlands (almost 234 billion euros). “Trade flows do not change overnight,” commented the chief economist at the Mercator Institute for China Studies (Merics), Max Zenglein, on the development. “The country will remain our most important trading partner for quite some time.” In 2022, goods worth a good 191 billion euros were imported from the People’s Republic, a good third more than in 2021. Germany mainly buys electronics and electrical engineering in China, but also textiles, machines and chemical products. Exports of goods made in Germany to China, on the other hand, increased by only 3.1 percent to around 107 billion euros.