The U.S. is now Germany’s biggest trading partner — taking over from China

After years of China being Germany’s main trading partner, the U.S. looks like it’s quietly taking that top spot as the year progresses.

Combined exports and imports between Germany and the U.S. totaled 63 billion euros ($68 billion) between January and March of 2024. Meanwhile, trade between Germany and China came to just below 60 billion euros, according to CNBC calculations. Reuters first reported the change on Thursday.

Several factors played a role in the move, Carsten Brzeski, global head of macro research at ING Research, told CNBC.

“This shift is the result of several factors: strong growth in the U.S. has boosted demand for German products. […] At the same time, decoupling from China, weaker domestic demand in China and China being able to produce goods it previously imported from Germany (mainly cars) reduced German exports to China,” he said.