German exports to China dropped

The volume of German exports to the People’s Republic of China dropped in July for the first time in almost a year. Exports last month amounted to 8.4 billion euros, down 3.9 percent on July of the previous year. This marked the first drop in German exports to China in eleven months. At the same time, it was the biggest slump in bilateral trade with the People’s Republic since May 2020, when global trade suffered the consequences of the first Covid wave. During the first half of 2021, exports from Germany to the People’s Republic had still increased by 19 percent to just under 53 billion euros.