Official data shows that in 2024, the United States became Germany’s largest single trading partner, replacing China for the first time in nine years. The primary reason for this shift was a significant decline in Germany’s exports to China.
Germany’s Federal Statistical Office released data on Feb. 19 (Wednesday), showing that Germany, the largest economy in Europe, saw its trade volume with the U.S. grow by 0.1 percent compared to 2023, reaching 252.8 billion euros (approximately US$264.3 billion).
China had been Germany’s largest trading partner for eight consecutive years from 2016 to 2023. However, in 2024, bilateral trade declined by 3.1 percent to 246.3 billion euros. The Netherlands ranked third, with a total trade volume of 205.7 billion euros , down 4.2 percent year-over-year.
Germany’s economy has not seen significant growth for five consecutive years. It has long relied on exports of industrial machinery, luxury automobiles, and other engineering products.
In 2024, Germany’s total exports amounted to 1.56 trillion euros, a 1.2 percent decline from the previous year. Global imports also fell by 3 percent to 1.32 trillion euros.
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Especially in the past two years, Germany’s economy has experienced contraction due to increasing competition from Chinese companies and other factors.
Germany is set to hold elections on Feb. 23 (Sunday) to elect the 630 members of the Bundestag, the federal legislature, with economic issues being one of the most urgent challenges for the new government. Additionally, Germany must contend with the tariff policies of the new U.S. administration.
On Feb. 18, U.S. President Donald Trump stated that he may impose a 25-percent tariff on automobile, semiconductor, and pharmaceutical imports, with an official announcement expected as early as April 2.
According to the German Federal Statistical Office, Germany’s trade surplus with the U.S. expanded from 63.3 billion euros in 2023 to 70 billion euros in 2024. German exports to the U.S. increased by 2.2 percent to 161.4 billion euros, while imports from the U.S. declined by 3.4 percent to 91.4 billion euros. The U.S. has remained Germany’s largest single export destination since 2015.
Meanwhile, Germany’s trade deficit with China has widened further. German imports from China declined by 0.3 percent to 156.3 billion euros, while exports to China saw a steeper drop of 7.6 percent, totaling 90 billion euros.
