It says that if current trends persist, the US is set to overtake China as Germany’s most important trade partner by 2025 at the latest.
DIHK’s chief executive of foreign trade, Volker Treier, said that „at the moment there are no signs of a significant increase in demand for products made in Germany from China“. Adding that „the US economy is currently doing significantly better than in many other important sales markets for Germany, such as the countries in the EU“.
According to Reuters, the preliminary data from the German stats office should show that German exports and imports to China should total around €253 billion last year. That will still see China as the number one trade partner for Germany for an eighth straight year but only just. German trade volume with the US should see a total of around €252.3 billion last year.
This article was written by Justin Low at www.forexlive.com.
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