US no Longer Germany’s top trade partner
While reading the title of this blog
you may have already guessed that the United States is no longer Germany’s most
important trade partner. But as for China, they are now taking the lead for
Germany’s top trade partner. Only a year ago it has been said that China, for
the first time, has become Germany’s most important trading partner which surpassed
the United States dropping them down to third place. France has even made it
past in second as China stands strong in first. The imports from Germany and
exports to China has already rose to 170 billion euros which equals out to about
180 billion US Dollars. As Berlin may see this as a positive outcome, the
German government is now approaching as a supporter of global free trade. With that
all said, Germany is also looking at forming new alliances. Now, France who has
come in second has become one of the most important partners for Germany. France
has now gathered a volume of about 167 billion euros by combined trade with the
United States not too far behind with a volume of 165 billion euros. Now, if you were to look at the export
statistics by themselves you will notice that the United States remains being
the biggest client for productions from Europe’s powerhouse which keeps them at
a high point. As for England, they are representing the greatest reciprocal
exchange overflow, with fares outperforming imports from the UK by more than 50
billion euros. This implies England and the US together represent around 40
percent of Germany's record exchange overflow of 252.9 billion euros from the
previous year.
Work Cited:
US no longer Germany's top trade partner |
Business | DW.COM | 24.02.2017
I am not surprised by this. Many companies including Apple consider this a completely new and very large market that has not been tapped as of yet. The Chinese people like to have items from other countries that go along with their ideas of being a new economic force. They have a new middle class that has grown up out of their new industrialized status and this middle class very much enjoys it's spending and foreign products.
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