Foreign trade
The importance of the US market for German export has increased
The export-oriented German economy is particularly susceptible to US customs policy under Trump. In fact, the US market has become increasingly significant in recent years.
The United States was the most important export market in the German economy immediately before the aggressive customs policy of the newly elected President Donald Trump. 10.4 percent of all exports of a value of 161.3 billion euros went to the United States last year, as reported by the Federal Statistical Office. That was the highest US share of German exports since 2002.
In individual industries, exports to the USA make up an even higher proportion of the business. Almost a quarter (23.8 percent) of all German pharmaceutical exports went to the United States. Their value was around 27.0 billion euros. So far, medicinal products have been except for the increased US tariffs.
The US market also achieves a particularly high proportion in air and space vehicles (17.1 percent, 5.8 billion euros) and optical and photographic products (14.9 percent, 11.8 billion euros). For motor vehicles and machines, there are also above -average export rates to the USA.
USA only the third strongest delivery country
Conversely, around 7.0 percent of German imports come from the United States, but to China and the Netherlands are only the third strongest delivery country. The value of the imports was 91.5 billion euros last year.
American bestsellers in Germany are optical and photographic products, pharmaceuticals and air and space. 13.6 percent of imported mineral fuels such as coal and oil also come from the USA. In the case of soy imports to Germany, the US share is even 64.1 percent.
dpa
Source: Stern
