China-beating US as Germany’s largest trading partner

Flag of ChinaFlag of China. Photo Wikipedia

For the first time, China is the main trading partner for Germany. France is still number two, while the US falls from first to third place.

The rating is based on figures of Germany’s foreign trade for 2016, which was presented from the country’s statistical office on Friday, according to Reuters.

Germany’s imports from and exports to China rose to 170 billion Euros (NOK 1500 billion) last year, which is enough to tilt the US down from the top of the list.

US President Donald Trump’s plans to introduce new import duties has made Germany’s Foreign Minister Sigmar Gabriel to say that the EU may need to expand their economic cooperation with countries in Asia.

In 2015, the US managed for the first time since 1961 to displace France as Germany’s top trading partner. France’s total trade with Germany was 167 billion Euros and they are still in second place, which is ahead of the United States with 165 billion Euros.

 

Source: NTB scanpix / Norway Today

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