In 2024, the United States emerged as Germany's largest trading partner for the first time in nearly a decade, surpassing China as exports to the latter fell. U.S.-Germany trade amounted to 252.8 billion euros, while trade with China decreased by 3.1% to 246.3 billion euros. Germany's overall economic growth has stagnated over the past five years, complicating its recovery amidst increasing competition from China. The new government, formed after the upcoming German elections, faces the challenge of revitalizing the economy and addressing its widening trade deficits.
Germany's trade with the U.S. grew to 252.8 billion euros in 2024, overtaking China for the first time since 2015, marking a significant shift in trade dynamics.
After years of expanded exports, Germany's economy has seen contraction in the last two years, with an urgent need for the new government to address economic challenges.
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