1. Slight Decline Amid a Second Year of Economic Recession
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Germany’s foreign trade turnover declined slightly in 2024 as the country’s economy entered its second consecutive year of recession.
According to data from the Federal Statistical Office of Germany (Destatis), the total value of Germany’s foreign trade reached €2,878.2 billion, down 1.5% from 2023.
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Exports: €1,559.7 billion (-1%)
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Imports: €1,318.5 billion (-2.8%)
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Trade surplus: €241.2 billion
2. The United States Regains Its Top Position
For the first time since 2015, the United States returned as Germany’s most important trading partner in 2024.
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Germany–U.S. trade turnover: €252.8 billion (≈ 9% of Germany’s total foreign trade)
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Germany–China trade: €246.3 billion (-3.1% YoY)
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Germany–Netherlands trade: €205.7 billion (-4.2% YoY)
While trade with the United States increased slightly (+0.1%), trade with China declined mainly due to reduced exports to the Chinese market.
3. Vietnam – Germany’s Leading ASEAN Partner
Vietnam ranked as Germany’s 31st largest trading partner and 6th in Asia (after China, Japan, South Korea, India, and Taiwan).
It also remained Germany’s top trading partner within ASEAN.
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Total bilateral trade: €18.83 billion
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German exports to Vietnam: €3.73 billion
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German imports from Vietnam: €15.1 billion
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4. Germany’s Key Export and Import Goods
Major Export Items
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Automobiles and auto parts – 16.8% of total exports
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Machinery – 13.9%
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Chemical products – 8.9%
Major Import Items
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Automobiles and motor vehicles
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Parts and accessories
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Crude oil and refined fuels
Most imported goods came from:
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China – €156.3 billion
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Netherlands – €95.2 billion
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United States – €91.4 billion