Germany-China trade imbalance widens further in July
The trade imbalance between Germany and China widened further in July as Chinese exports rose sharply while imports from Germany declined, customs data showed on Friday. The post Germany-China trade imbalance widens further in July appeared first on Ghana Business News .
In July, the trade imbalance between Germany and China continued to expand, according to customs data revealed on Friday. Chinese exports to Germany surged by 17.4%, reaching $12.3 billion, compared to a 2.7% drop in German imports to China, totaling $7.9 billion. Over the first seven months of the year, China's exports to Germany rose by 18.8% to $79.7 billion, while German imports to China grew only by 1.1% to $53 billion. Consequently, China's trade surplus with Germany expanded to nearly $27 billion for the period.
European policymakers are increasingly concerned about China's growing competition, particularly in sectors like car manufacturing and mechanical engineering, as German manufacturers face declining market share in China and intensified global competition from Chinese companies. Meanwhile, China's imports from various regions saw significant growth in July.
Overall imports increased by 27.5%, with notable surges from ASEAN countries (36%), Russia (26.8%), Africa (25%), and the United States (15.3%). China also expanded its exports to the ASEAN region by 38.4% and to Africa by 18.2%.
Written by urgent.news from Ghana Business News's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
