German exporters’ hopes of a revival in trade with China after Beijing abruptly dismantled its strict “zero-COVID” policy in December failed to materialise at the start of the year, federal statistics office data showed on Tuesday, reports Reuters. Exports to China fell by 7.1% in January compared with the same month last year, to €7.4 billion ($7.90 billion).
By comparison, exports to the United States grew by 20.8% to €12 billion, with the world’s largest economy retaining its place as the most important customer for goods made in Germany.
After three years of strict pandemic restrictions in China during which factories and ports in the world’s second-largest economy closed down, German exporters had hoped for a stronger start to 2023 with the country’s most important trading partner.