Foreign trade: China's trade surplus with Germany continues to grow

The imbalance in trade between Germany and China continues to grow. In July, China exported goods worth $12.3 billion (around €10.7 billion) to Germany. This was 17.4 percent more than a year earlier, according to data from the Chinese customs authority. In the opposite direction, trade developed significantly weaker: China's imports from Germany fell by 2.7 percent to $7.9 billion.

Over a longer period, the growing imbalance is also evident. From January to July, China's exports to Germany increased by 18.8 percent to $79.7 billion. In contrast, imports from Germany rose by only 1.1 percent to $53 billion. As a result, China's trade surplus with Germany climbed to almost $27 billion in the first seven months.

In Germany, concerns about stronger Chinese competition have been growing for some time. Key industries such as the automotive and mechanical engineering sectors are considered particularly affected. Many German manufacturers are losing market share in China and at the same time facing stronger Chinese competition on global markets.

In contrast to trade with Germany, China's imports from many other regions of the world increased significantly. Overall, Chinese imports rose by just over a quarter (27.5 percent) in July. Exports increased by 23.9 percent. Imports from the ASEAN states rose by 36 percent, from Russia by 26.8 percent, from Africa by 25 percent, and from the US by 15.3 percent.

At the same time, China increased its exports to the ASEAN states by 38.4 percent and to Africa by 18.2 percent. Trade with the US also increased significantly in July. China's exports to the United States rose by 17 percent, and imports from the US by 15.3 percent.

A key driver of Chinese exports is technology products. In the first seven months, the value of high-tech exports rose by 40.7 percent according to customs data. Exports of chips almost doubled in value. Car exports also increased by more than 50 percent.