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.
China exported goods worth $12.3 billion to Germany last month, up 17.4% from a year earlier, according to data from China’s customs authority.
By contrast, Chinese imports from Germany fell by 2.7% to $7.9 billion.
The gap also widened over the first seven months of the year. Chinese exports to Germany increased by 18.8% to $79.7 billion between January and July, while imports from Germany rose by just 1.1% to $53 billion.
China’s trade surplus with Germany consequently widened to almost $27 billion during the period.
Concerns have been growing in Europe’s largest economy about intensifying competition from China, particularly in major industries such as car manufacturing and mechanical engineering.
Many German manufacturers are losing market share in China while also facing stronger competition from Chinese rivals in global markets.
China’s imports from many other regions, meanwhile, rose sharply in July.
Overall imports increased by 27.5%, while exports climbed by 23.9%.
Imports from the ASEAN countries rose by 36%, while those from Russia increased by 26.8%, Africa by 25% and the United States by 15.3%.
China also increased exports to the ASEAN region by 38.4% and to Africa by 18.2%
-dpa
About The Author
