Economic Structure
US Trade Increases in Importance to German Economy
Almost ten percent of German exports go the United States, new statistics show.
Oct 16, 2024
In 2023, Germany exported EUR 157.9 billion worth of goods to its trans-Atlantic partner, according to the Federal Statistical Office. That accounted for 9.9 percent of German exports in total.
2023 was the ninth year in a row the US was Germany’s most important export country.
Germany is also importing more goods from the United States – EUR 94.7 billion worth last year. Goods from America represented 6.9 percent of German imports, making the US the third-largest importer to Germany for the fifth year in a row. The world’s largest importer to Germany is China.
Germany’s trade surplus with the United States was a record EUR 63.3 billion last year and has been rising since 2020.
One German sector with particularly high exports to the US is pharma. Over 23 percent of German pharmaceuticals currently go the United States. Other strong German-US export sectors are machinery, motor vehicles, electronic and optical products and chemicals.
