For years, China has been Germany's largest single trading partner, a relationship built on deep industrial complementarity. However, the latest data from 2023 and 2024 reveals a dynamic in transition. This infographic explores the key statistics behind the shifting trade balances, crucial product categories, and divergent investment strategies defining this critical economic partnership.
Section 1: The Shifting Trade Balance
While the total trade volume remains immense, the balance between imports and exports has notably shifted. Germany, historically known for its export surpluses, now faces a significant trade deficit with China. This trend continued through 2024, highlighting a structural change in the trade relationship.
In 2023, Chinese exports to Germany outpaced German exports to China by $60 billion, underscoring Germany's growing trade deficit.
Section 2: Key Traded Goods (2023)
The composition of trade reveals the core of the economic partnership. Germany's exports are dominated by high-value industrial goods, particularly machinery and vehicles. Conversely, China's exports are led by electronics, with high-tech sectors like electric batteries becoming increasingly prominent.
Germany's Top Exports to China
German exports remain centered on its industrial strengths. Machinery ($20.8B) and Electrical Equipment ($20.2B) lead, closely followed by Vehicles ($16.2B), demonstrating China's continued demand for Germany's capital goods.
China's Top Exports to Germany
Chinese exports are dominated by Electrical & Electronic goods (over $33B), including broadcasting equipment. Notably, Electric Batteries ($13.3B) and Computers ($12.7B) are major individual categories, reflecting China's tech manufacturing prowess.
Section 3: A Tale of Two Investment Strategies
Investment flows reveal divergent strategies. German companies continue to deepen their decades-long investment in China, especially in manufacturing. In contrast, recent Chinese investment in Europe is shifting away from traditional partners like Germany and towards new hubs, particularly for greenfield projects.
Germany's Deep Roots in China
German FDI stock in China is heavily concentrated in manufacturing. The automotive industry alone accounts for nearly 30% of the total, followed by chemicals (9%) and mechanical engineering (7%).
China's New European Focus
In 2024, Chinese FDI in Europe shifted dramatically. Hungary became the top destination (31%), driven by large-scale EV battery projects, while the traditional "Big 3" recipients saw their combined share plummet.
Data sourced from BMWK, Destatis, UN Comtrade, and Rhodium Group (2024–2025).
Infographic by Beyond the Horizon ISSG
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