You can find in Germany most of the big companies in manufacturing. It is a place with lots of opportunities for companies all over the world. Most of its residents live in urban areas. Because of this, Germany is considered one of the biggest and in-demand markets in the world of products and services.
Products Germany Imports
Germany has an open economy and a wide variety of goods that it imports. Businesses in the country add value to parts and raw products. Here is the Germany import list from China:
- Agricultural products
- Data processing equipment
- Electric equipment
- Oil and gas
Besides China, other top countries that export to Germany include the Netherlands, France, Italy, and the US.
Europe comprises 70% of its total imports, Asia at 20%, and the remaining 10% is from other continents. It only shows that if you have a product with quality or cost advantage over European products, you can do business in Germany.
Germany Exports and Imports
In 2015, the worth of Germany’s exports was around 1,410 billion dollars as compared to 1,130 billion dollars of total imports. It’s because of this, the trade surplus in Germany is 280 billion dollars during that year. Germany is the top exporter of vehicles, household equipment, machinery, and chemicals thanks to the efficient and highly-skilled labor force.
Trade Relations of Germany with China
Germany has been exporting to China for many years. In 2000, the total export was over € 9 billion and had grown to € 67 billion in 2013. German exports to China are mostly in the engineering sector. Cars components and vehicles comprise one-fourth of Germany’s export to China. Next is the machinery, followed by the optical industry, chemical goods manufacturers, and the aviation industry.
Germany’s import from China has increased from € 18 billion in 2000 to around € 73 billion in 2013. China is the second most source of import of Germany next to the Netherlands. Most of the products being imported from China are electrical and electronics (27%) and the machinery products (21%).
Furniture, toys, and garments are among the essential import goods before, but now it is decreasing rapidly as China’s export process is becoming more advanced.
China’s Investments in Germany
When it comes to investment volume, Germany tops the destination for Chinese industrial investment. The skilled labor force and infrastructure is the main reason for this. Germany is the best option for outbound investment when it comes to China’s policy.
Chinese investment in Germany is distributed over various industries. The main recipients of Chinese include the automotive, chemical, machinery, telecommunications, and energy and other sectors.
The trading between the two countries continues and is building a better relationship when it comes to importing and exporting their products. However, both countries need to comply with the changing rules and regulations to have worry-free and stress-free trading. They need to find a reliable air or sea freight services to help them process the necessary documents to complete the shipment.