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USA falls to third place after France
China is Germany's most important trading partnerLast year, according to a calculation by the German Chambers of Industry and Commerce (DIHK), a "changing of the guard" in the ranking list of German trading partners took place.
"China is Germany's most important trading partner for the first time, and thus replaces the USA" said DIHK Foreign Trade Secretary, Volker Treier. "France maintains its position as the second largest partner."
Although the US is still the number one exporter in the world, reports the foreign trade minister, exports, and particularly German imports from the US, were too weak to consolidate the lead: "German exports to the US last year fell by more than five percent because the US economy grew more slowly than before and was more domestically orientated."
"With a growing economy however, the US could be at least second place in the coming year if the customs policy of the new US President doesn't throw too big a spanner in the works." Treier continued.
For China's rise, it was crucial that the German exports to the Middle Kingdom developed dynamically after a weak start to the year. "Chinese growth continues to benefit from massive government support measures, such as infrastructure investment and the banks' very lax lending policy."
Publication date: 2/1/2017
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