Sino-German trade ties deepen
China was Germany's most important trading partner in 2020 for the fifth consecutive year, the Federal Statistical Office (Destatis) announced on Monday. Despite the coronavirus crisis, foreign trade turnover with China increased 3 percent compared to 2019, with goods worth 212.1 billion euros traded between China and Germany last year, according to figures from Destatis.
Germany's second and third most important trading partners were the Netherlands and the US, with foreign trade at 172.8 billion euros and 171.6 billion euros, respectively, according to Destatis. Compared to 2019, however, Germany's foreign trade with both countries declined 8.7 and 9.7 percent, respectively.