China Blitzes Past US to Become Germany's Top Trade Partner
Yicai Global
/SOURCE : Yicai
China Blitzes Past US to Become Germany's Top Trade Partner

(Yicai Global) Jan. 31 -- China became Germany's top trading partner last year, overtaking the US for the first time as the Federal Republic's biggest trading partner, as data the Association of German Chambers of Commerce and Industry (DIHK) issued on Jan. 27 shows.

The data also spotlights France as Germany's second-largest trading nation, with the US relegated to the number three slot. Though the US remains Germany's largest export market, German imports into the US dropped more than five percentage points last year from the year before.

The Americans leapfrogged the French to become Germany's top trading market in 2015, budging France from the top spot it squatted on for some 60 years.

The DIHK cites a significant uptick in German exports in the latter half of 2016 as instrumental in China's rise, while government-backed initiatives such as infrastructure investment and a loose credit policy have supported the country's domestic growth.

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