German exports to China fall in February

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German exports to China fall in February

German exports to China fell significantly in February, dampening hopes of a trade revival after the end of strict coronaviruses measures at the end of last year, the federal statistics office said on Tuesday.

German exporters had hoped for a stronger start to 2023 after the restrictions on factories and ports in the world's second-largest economy were lifted in December.

The economy could grow twice as fast this year as it did in 2022 because of the catch-up potential in trade with China, according to experts.

Exports of German goods to China increased by only 3.1 per cent, to around 107 billion euros, while goods worth around 298 billion euro were traded between the two countries last year.

Germany imported goods worth 191 billion euros from China in the year 2021, a third more than in 2021, a third more than in 2021.