Another milestone in America’s economic fall – China overtakes US as Germany’s largest trading partner: report

China overtakes US as Germany’s largest trading partner: report

China has overtaken the United States to become Germany’s top trading market in 2016 for the first time, according to data collected by the Association of German Chambers of Commerce and Industry (DIHK).

The U.S. has fallen to become Germany’s third largest trading partner in 2016.

France continues to hold the position as Germany’s second largest trading partner in 2016, according to data from DIHK.

DIHK’s foreign business chief Volker Treier said the volume of goods exported to China from Germany grew rapidly in the latter part of 2016, Chinanews.com reported.

The total foreign trade volume between China and Germany reached 999.1 billion yuan (USD about 145.3 billion) in 2016, with a year-on-year growth of 2.6 percent, according to statistics released by China’s General Administration of Customs.

Before becoming Germany’s top trading partner, China was Germany’s largest trading market in Asia.

Germany has been China’s top trading partner in the European Union for the last 2 years.

DIHK is the central organisation for 79 Chambers of Commerce and Industry in Germany.

 

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