BERLIN, Dec 15 (Reuters) - China will fall out of Germany's top five export destinations for the first time since 2010, dropping to seventh place as shipments decline 10% to 81 billion euros ($95.04
China No Longer in Germany's Top Five Export Destinations
BERLIN, Dec 15 (Reuters) - China will fall out of Germany's top five export destinations for the first time since 2010, dropping to seventh place as shipments decline 10% to 81 billion euros ($95.04 billion) this year, a government trade agency forecast on Monday.
China will be overtaken by both Britain and Italy, falling from fifth place last year, according to Germany Trade & Invest (GTAI).
"On the one hand, the Chinese domestic market is weakening," said GTAI expert Christina Otte. "On the other hand, more and more German suppliers are producing locally instead of exporting there."
China's share of total German exports will fall to 5.2% this year from around 7.5% in 2021, GTAI said.
($1 = 0.8523 euros)
(Reporting by Rene Wagner, writing by Maria Martinez)
