US remains by far the top market for German exports -DW

The US is by far the largest market worldwide for German products, accounting for about 10.4% of the country’s total exports in 2024, Germany’s Federal Statistical Office  said on Monday.

The office, which is known by its abbreviated name Destatis, said Germany exported €161.3 billion ($183.66 billion) worth of goods to the US last year, the highest level in 22 years.

The US in particular is a key foreign market for German pharmaceutical goods, with 23.8% of German pharma exports, worth around €27 billion, going there in 2024.

The US is also a major market for German machinery, including medical devices and aviation technologies, and cars.

“For individual export goods, trade relations with the United States are even closer,” Destatis said.

It pointed out, for instance, that 34.4% of immunological products exported from Germany last year, such as antisera, vaccines and blood, ended up in the US. In addition, some 25.6% of exported engines and gas turbines went there.

Germany, meanwhile, imported €91.5 billion in goods from the US last year, resulting in a trade surplus of €69.8 billion.

“Germany imports a relevant volume of its imports from the US in many areas, even though the United States is only the third-largest supplier country for German imports overall after China and the Netherlands,” Destatis said.

Tariffs pose challenges to US-Germany trade ties

While trade relations between the US and Germany remain robust, US President Donald Trump’s tariff policies have caused significant uncertainty and risk posing challenges to trade and investment links.

Germany, like most of the world, is facing a 10% tariff on its exports to the United States. And a further 20% levy is still looming despite Trump granting a 90-day reprieve last week.

The tariffs come at a time when Europe’s biggest economy is already struggling with a lack of growth, with economists predicting the trade turmoil could put it on track for a third year of recession.

“Tariffs on German exports to the US hit sectors such as the pharmaceutical industry and medical technology, vehicle construction and mechanical engineering particularly hard,” Destatis warned.

“The United States is the most important sales market for many export goods from these sectors.”