German imports from China hit a record high

German imports from China hit a record high

According to data from the German Federal Statistical Office, German imports from China accounted for 11.3% of the total imports in the first three quarters of this year, a record high. Since the outbreak of the new crown epidemic, all walks of life in Germany have been discussing to reduce their economic and trade dependence on China.

According to the latest figures from the German Federal Statistical Office learned by Reuters, from January to September this year, Germany’s imports from China reached 85.2 billion euros, a sharp increase of 5% over the same period last year. At the same time, Germany’s total import trade fell 9.3% to 751.1 billion euros due to the global new crown epidemic. Under this trend, the proportion of imports from China has also reached a record high.

Zeng Lin, a scholar from the Mercator Center for China Studies in Germany, pointed out that this trend is due to the increase in demand for medical supplies produced in China during the epidemic, and also to the fact that many people work at home and have the same demand for electronic products made in China. Substantial growth.

Berner, chairman of the German Foreign Trade Association (BGA), told Reuters that Germany’s trading partners should be more diverse. “The new crown epidemic and the Sino-US trade war show that the supply chain must be diversified. This is not to move the supply chain back to Europe, but to build a European free trade agreement network.” He also believes that it is now determined. It would be an exaggeration to rely more on China. “It is better to wait until the epidemic has passed and the global industrial chain recovers before analyzing foreign trade figures at that time.”

Zeng Lin also believes that the dependence of German companies on Chinese imports is actually not high. A large number of Chinese imports are still consumer goods and electronic products; for the industry, only a few areas rely on upstream pharmaceutical raw materials and electronic components from China. Device.

However, Zeng Lin also called on the German Federal Government to continue to pay attention to the status of trade with China. “In view of the rising political risks and the attendant supply chain risks, the government must be vigilant about possible weak links.” Zeng Lin called on the German government to identify which products are critical to industry, safety, and health. Then implement targeted supply chain diversification measures for these products.