Chinese exports to Germany grow by 27.2% in June
Chinese exports to Germany continued to record strong growth in June.
According to data from Beijing Customs, exports - calculated in US dollars - rose by 27.2% compared to the same month last year. In contrast, Chinese imports from Germany increased by only 3.1%.
During the first half of this year, Chinese exports to Germany also grew at a much faster pace than imports from Germany. Exports rose by 19% compared to the same period last year, while imports increased by only 1.8%, according to the German news agency (dpa).
Thus, China exported goods worth $67.5 billion to Germany in the first half of the year, while imports from Germany amounted to $45.2 billion. The German trade deficit with China thus reached $22.3 billion.
Germany benefited for a long time from China's economic rise, primarily exporting cars, machinery, and specialized technologies to China. However, this situation has now changed, as Chinese companies themselves are offering technologically advanced products at low prices in global markets.
This development has also led to political discussions on how Germany and Europe should deal with the growing competition from East Asia.
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Original source: Al Arabiya
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