Military Space News
TRADE WARS
China remains Germany's biggest trade partner in 2022
China remains Germany's biggest trade partner in 2022
by AFP Staff Writers
Frankfurt, Germany (AFP) Feb 16, 2023
China was Germany's biggest trading partner in 2022 for the seventh year in a row, figures published Thursday showed, as policymakers worry about economic over-reliance on Beijing.

Goods worth 297.9 billion euros ($318.9 billion) were exchanged between the two countries last year, up 20 percent despite the continuing impact of the coronavirus pandemic, according to the federal statistics agency Destatis.

Germany's trade deficit with China -- the difference between the larger value of imports and smaller exports -- hit 84.3 billion euros, the largest figure since the statistics body's records began in 1950.

Imports from China rose to 191.1 billion euros in 2022, an increase of 33 percent on the previous year.

Meanwhile, the value of exports largely stagnated, increasing just three percent in 2022 to 106.8 billion euros.

The meagre figure saw China slip two places to fourth in the ranking of export destinations for German goods.

Fears have been growing in Germany about an over-reliance on China against the backdrop of tensions between the West and Beijing over its ties with Russia and human rights issues.

"Germany urgently needs a strategy for more diversification" away from China to secure supply of key raw materials and goods, particularly electronics, the German economic think tank IfW Kiel said in a report published Wednesday.

The United States, Germany's second most important trading partner overall, was the number one destination for items "made in Germany", sucking up 156 billion euros worth of imports.

Overall, Germany's trade surplus was at its lowest level since 2000 in 2022. The important indicator for the traditional export powerhouse fell to 79.7 billion euros on a year due to the rising cost of energy imports, according to Destatis.

Related Links
Global Trade News

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
TRADE WARS
China to resume issuing short-term visas for S. Koreans
Seoul (AFP) Feb 15, 2023
China will resume issuing short-term visas for South Korean nationals on February 18, the Chinese embassy in Seoul said Wednesday. The move follows South Korea's decision last week to end Covid-linked travel restrictions on Chinese nationals - rules that sparked a furious response and tit-for-tat measures from Beijing. From Saturday, the Chinese embassy in Seoul and other consulates "will resume issuing short-term visas for Korean citizens to visit China, for business, transit and other private ... read more

TRADE WARS
Germany to give Slovakia Mantis air defence systems

Advanced manufacturing powering development of Next Generation Interceptor

Kremlin keeps mum on missile systems seen on Moscow rooftops

Netherlands set to boost push for Patriot missile defenses in Ukraine

TRADE WARS
Russia fires dozens of missiles at Ukraine overnight: Kyiv

Final flight of HAWC Program screams through the sky

Ukraine leader says wants long-range missiles, jets from West

Ukraine missile toll rises to 40 as Russia denies attack

TRADE WARS
US ends search for downed Chinese balloon debris, other objects

Japan says past aerial objects likely Chinese spy balloons

US still in dark over mystery flying objects, rejects China balloon accusation

Oops -- US jet pilot misses mystery object with first missile

TRADE WARS
Multi aircraft and naval ships showcase interoperability

SES, ThinKom and Hughes enable multi-orbit resilient connectivity for critical airborne missions

Comtech receives additional funding for US Army Communications

GIT becomes Iridium Certus Service Provider to DoD and other Government customers

TRADE WARS
Germany to send 'half battalion' of tanks to Ukraine

US awards $522 mn for artillery shells; Ukraine's allies scramble to keep ammo flowing

Ukraine troops train on Leopard tanks in Poland

Northrop Grumman-built Common Infrared Countermeasure Systems approved by US Army for early fielding

TRADE WARS
Beijing slams 'false' US claims that China may arm Russia

Germany slams Swiss ban on munitions for Ukraine

Ukraine munition appetite tests Western defence industry

Philippines' Marcos strikes defence, infrastructure deals in Tokyo

TRADE WARS
US says China mulling arming Russia in Ukraine war

Blinken, China's top diplomat in 'direct, candid talks' amid balloon spat

Biden says will contact Xi in wake of balloon shoot-down

Marcos insists Philippines 'will not lose one inch' of territory

TRADE WARS
Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2026 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.