German trade with China in Q1 down 10.5% year on year

China was Germany’s most important trading partner in the 1st quarter of 2023, but the volume of German trade (value of exports and imports) with China decreased by 10.5% to €64.7 billion from the same quarter of the previous year, according to the Federal Statistical Office (Destatis) of Germany.

The value of the goods traded with China was only slightly higher than the volume of Germany trade with the U.S., which totaled €64.1 billion in the 1st quarter of 2023.

German trade in figures. (Source: Destatis)

In the 1st quarter of 2022, the volume of trade with China had been €72.4 billion, while goods to the value of €54.6 billion had been traded with the U.S.

In March, 2023, exports to China decreased by 9.3% to €7.7 billion, while goods to the value of €12.6 billion were imported from there, which represented a 7.2% decrease compared with the previous month, after calendar and seasonal adjustment.