Repost: In 2016, China became Germanys largest trading partner for the first time

China News Service Berlin the 27^th, January (Journalist: Peng Dawei) According to the latest survey released by the German Chambers of Commerce and Industry (DIHK) in 2017, China has become Germany's largest trading partner in the world for the first time in 2016.

Volker Treier, Deputy Director General of the German Chamber of Commerce and Industry, told the German media that this was the first time China became Germany's most important trading partner, replacing the previous US position. According to the estimate of DIHK, the US fell to Germany's third largest trading partner last year, and France is Germany's second largest trading partner.

China has been Germany's largest trading partner in Asia, and Germany has also ranked China's largest trading partner in the EU for many years. According to the statistics provided by German Federal Statistics Bureau in 2015, China was the world's fourth largest trading partner. In addition, according to the statistics released this month by the General Administration of Customs of the People's Republic of China, China's bilateral trade with Germany in 2016 amounted to 999.1 billion yuan, increasing by 2.6 percent year that year. 

 For China’s becoming Germany's largest trading partner for the first time, Volker Treier said that Germany's export to China was still in a weak state in early 2016, but then it experienced a strong growth. He analyzed that the growth of the Chinese economy in the past year has benefited from government supporting measures such as infrastructure investment and loose banking credit policies.

However, despite the total trade in Germany falling to the third place, the US is still the largest export to Germany last year. Volker Treier believes that as the US economy is in good condition, it will at least return to the position of Germany's second largest trading partner, unless the new US president's tariff policy interferes.

 

German Chambers of Commerce and Industry (DIHK) is a joint organization of different German chambers, which is composed of the local chambers of commerce in Germany and the overseas chambers of commerce in Germany.

    European Buyers Council, as a member of the German Chamber of Commerce and Industry, also made an important contribution to the development of Sino-German trade in 2016. European Buyers Council, headquartered in Stuttgart, Germany, is an innovative professional service provider serving international suppliers and buyers. Our goal is to promote the exchange and cooperation between different countries and regions, associations and enterprises, and to facilitate the establishment of long-term trade links.