Long Beach Cargo Port in California, USA. Illustration photo: AFP/VNA

Germany's trade with the United States – exports and imports combined – totaled 68 billion USD from January to March, while the figure for China was less than 65 billion USD.

In 2023, China was Germany's top trading partner for the eighth year in a row, with volumes reaching 273 billion USD, although that was only a few hundred million ahead of the US.

"China has moved up the value chain ladder and is increasingly producing more complex goods itself, which it used to import from Germany," said Commerzbank economist Vincent Stamer. "In addition, German companies are increasingly producing locally instead of exporting goods from Germany to China," he said.

German imports of goods from China fell almost 12% year-on-year in the first quarter, while exports of goods to China fell just over 1%, said Juergen Matthes, of the German economic institute IW.

The US now accounts for around 10% of German goods exports. China's share has fallen to less than 6%, Matthes said.