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We must keep the engine running!

China is regarded as one of the most important engines of the global economy. Even if the Chinese economy recorded its lowest growth rate for three decades in 2019 at 6.1 percent and the coronavirus is creating further problems in the short term, the Middle Kingdom is still ranked as the world’s second largest economy behind the USA, but well ahead of Japan and Germany.

Main exports

  • Electronics 25.5% 25.5%
  • Textiles/Clothing 11.1% 11.1%
  • Maschinery 8.7% 8.7%
  • Electrical engineering 8.7% 8.7%
  • Chemical products 6.7% 6.7%

Main imports

  • Electronics 20.1% 20.1%
  • Raw materials 12.7% 12.7%
  • Crude oil 11.2% 11.2%
  • Chemical products 10.5% 10.5%
  • Maschinery 7.1% 7.1%

Bilateral trade volume Germany/China

in billion euros (2018)

Germany – China

of which German exports to China

and Chinese exports to Germany

When measured by purchasing power parity (PPP), which measures economic power independent of currencies and exchange rates, several statistics actually identify China as the largest economic area in the world. In Germany, no one in the maritime economy and logistics would like to see this driving force weaken. This is also in line with the assessment of the German Federal Ministry for Economic Affairs and Energy (BMWI), which sees China as a long-term “target market for German companies” and expects “an increase in demand over the coming years not only in the traditional manufacturing industries, but especially in the areas of transport, energy production, environmental technology and health economy”.

China’s main suppliers

Share in % (2018)

%

Other

%

South Korea

%

Japan

%

Taiwan

%

USA

%

Germany

%

Australia

%

Brazil

German exports to China

according to the SITC as a % of the total exports (2018)

  • Motor vehicles and motor vehicle parts 25.9% 25.9%
  • Maschinery 22.8% 22.8%
  • Electrical engineering 11.4% 11.4%
  • Chemical products 10.1% 10.1%
  • Measurement/Control technology 7% 7%
  • Others Vehicles 4.9% 4.9%
  • Electronics 4.4% 4.4%

German exports to China

in billion euros

2016

German imports

German exports

2017

German imports

German exports

2018

German imports

German exports

Source: Germany Trade & Invest 2019, Statista 2020

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