Germany country Profile- Trade and Economic Analysis

As per import export data from a reliable Import Export Data Provider, Germany maintained its position as the world’s largest exporter behind China and US. The country’s economy is characterized by a high degree of foreign exposure through exports and imports.

As per Germany Import Data, the main imports of the country are petroleum, cars and vehicle parts. The country’s most imported product is petroleum under different forms- crude, refined or gas and it constitutes almost 14% of the country’s total imports.

The main imports of the country focus on vehicles and vehicle parts that together occupy 7%. The import partners are China, Netherlands, United States, France and Poland. In the year 2020, the Germany imported $68.9B in cars, becoming the second largest importer of cars in the world. In the same year cars was the first imported product in Germany. The country imported cars from Spain, United States, Czechia, Slovakia and Mexico.

In the year 2020, Germany imported crude petroleum, becoming the 8th largest importer of crude petroleum in the world. About 98% of oil consumed in Germany is imported. The main import partners of Germany’s crude oil are US, Kazakhstan, and Norway. The country is also importer of natural gas, which covered more than quarter of primary energy consumption in the year 2021.

As per Germany Export Data, the main exports of Germany are motor vehicles and parts, machinery and chemical products. The main export partners are United States, France, China, Netherlands and United Kingdom.

Motor car is the top export of Germany as the country is largest motor car exporter in the world. German car brands are known to be exported the world over. China was the leading importer of motor vehicles from Germany, followed by US and UK.

Exports of machinery from Germany recorded high growth in the third quarter of 2021, rising by 8.8% year-on-year basis to 44.6 billion Euros. Germany exports semi- conductors, panel equipment, and electronic machinery. It is the 4th largest exporter of semiconductor devices in the world.

Germany is beating heart of European semiconductor industry, ranking among the world’s top semiconductor production locations. If you are planning to do trade with Germany, it is important that you understand the trade scenario of the country.

A reliable import export data provider will provide you with authentic data about the imports and exports dynamics of the country and will help you make informed trade relations.

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