Germany is the largest European trading partner of China. Even the combined exports of second and third largest economies of Europe cannot match the German exports to China. During 2015-18 period Chinese imports of German products increased by 5%, they reached $212Bn in 2018 compared to $175Bn in 2015.
Top five Chinese imports of German products accounted for 74% of overall imports. Remaining ninety two German products accounted for remaining 28% of overall trade between China and Germany. By 2018 there were thirteen German product segments with over $1Bn imports by China.
Nuclear Reactors are the biggest German imports in China, they account for 23% of all imports. German vehicles are the second major imports into China they account for 22% of overall Chinese imports of German goods. Electrical Machinery & Equipments accounts for 13% of imports, Optical/ photographic/ surgical instruments are the only other segment with double digit import share in Chinese market with 10% share.
German Nuclear Reactors & machinery accounted for $24Bn imports in 2018 and grew at CAGR of 4% during 2015-18 period. Pharmaceuticals which accounted for only 6% of imports by China grew at CAGR of 11% during the same period. German Pharmaceutical products accounted for $6.8Bn of Chinese imports.
There were only three major German product segments with over $1Bn imports by China that grew in double digits. German Organic chemicals which accounted for $1.6Bn trade with China grew at the rate of 10% during the period.
Iron & Steel was another product segment which accounted for $1.7Bn imports by China and it grew at CAGR of 11% during the period.
Electrical machinery and equipment which accounted for 13% imports by China of German products managed to grow at a meager 2% during 2015-18 period. Electrical machinery & equipment import of German origin stood at $13Bn in 2018.
This analysis is based on the data insight generated by Viksa Market Insights. VMI has strong expertise in Trade Analysis of products & services. Viksa Market Insights also creates customized Trade Analysis Reports on demand and can be reached out for a response – email@example.com