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GERMAN EXPORTS TO US AND CHINA FALL SHARPLY IN DECEMBER

NEWS Desk Global



Exports to Germany's overseas trade partners like US and China, fell sharply at the end of 2023. In December, exports to countries outside the European Union fell 4.0% same as in November, on a seasonally adjusted basis, to 57.2 billion euros. Like in December 2022, there was an even steeper decline in exports to non-EU countries of 9.2%.

While the US remained one of German exporters' most important trading partner, exports to the US in December slumped by 9.9% to 11.2 billion euros. Exports to China dropped by 12.7% to 7.2 billion euros. By comparison, exports to Britain were up 19.7% on the year to 6.0 billion euros. Trade with non-EU countries accounts for just under half of all German exports.

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