According to just-released statistics from the United States International Trade Commission, the value of Germany’s exports to the United States rose 17.2% to US$38.3 billion during the first half of 2010.
German imports from America were up by 9.5% to $23.2 billion over that same period.
Overall, the German trade surplus with the United States was $15.1 billion, up 31.3% from the $11.5-billion surplus as of June 2009.
Below are the top 10 export and import products that the two countries exchanged from January to June 2010.
Top German Exports to US
Shown below are the top-selling products exported from Germany to the United States during the first 6 months of 2010.
Shown within brackets in the list below is the product’s percentage of total value of shipments from Germany to America.
- Larger autos with over 6 cylinder engines … US$1.11 billion, up 146.3% (2.9% of total)
- Medium-sized autos with over 4 up to 6 cylinder engines … $1.1 billion, up 21.9% (2.9%)
- Medium-sized autos with 4 cylinder engines and under … $1 billion, up 56,563% (2.6%)
- Larger autos with over 4 up to 6 cylinder engines … $778.1 million, up 146.6% (2%)
- Cardiovascular medications … $598.6 million, up 32.6% (1.6%)
- Medications containing insulin but not antibiotics … $551.6 million, down 22.6% (1.4%)
- Medium-sized autos with over 4 up to 6 cylinder engines* … $508.8 million, up 32.2% (1.33%)
- Larger autos with over 6 cylinder engines* … $492.1 million, up 75.5% (1.28%)
- Medium-sized autos with 4 cylinder engines* and under … $490 million, down 26.9% (1.28%)
- Larger autos with over 4 up to 6 cylinder engines* … $480.7 million, up 13.8% (1.2%).
*smaller volume
Out of the top 10 German products exported to the United States, 8 items showed percentage gains from 13.8% for larger autos to 56,563% medium-sized vehicles with 4 cylinder engines and under. Of those 8 exports with percentage gains, 7 were categories for passenger vehicles.
Germany is well known for its superior mechanical engineering. Top German automotive brands including Mercedes-Benz, Audi, Porsche and Volkswagen.
Top German Imports from US
The following German imports from the United States had the highest dollar values during the 6-month period ending June 2010.
- Civilian aircraft including parts … US$2.5 billion, down 2.8% (10.7% of total)
- Other blood fractions … $2.2 billion, up 4.5% (9.3%)
- Larger autos with diesel engines, compression ignition … $736.2 million, up 44.8% (3.2%)
- Medium-sized autos with over 4 up to 6 cylinder engines … $699.1 million, up 20.5% (3%)
- Diagnostic or laboratory reagents … $453 million, up 16.1% (2%)
- Solar cell modules or panels, assembled … $366.5 million, up 60% (1.6%)
- Natural or synthetic hormones … $341.2 million, up 57.2% (1.5%)
- Human blood plasma … $261.6 million, up 64.5% (1.1%)
- Soybeans … $227.4 million, up 8.4% (1%)
- Larger autos with over 4 up to 6 cylinder engines … $226.8 million, up 20.8% (1%).
Out of the 10 leading German imports from the United States, 9 posted percentage gains as of June 2010 compared to the first 6 months of 2009. Those gains ranged from 4.5% for other blood fractions to 64.5% for exported human blood plasma.
Germany Versus United States Trade Results
Germany grew its exports to the United States by 17.2%. That represents a much faster rate than the 9.5% improvement in U.S. exports to Germany during the first half of 2010.
Among the top export categories, medium-sized German passenger vehicles posted the most dramatic improvement. Sales for those automobile exports were up by over $800 million compared to the first 6 months of 2009.
The fastest growth rates for U.S. exports to Germany were in the middle double-digits, although for a wider range of products. American sales of assembled solar cell panels were particularly encouraging for environmentalists and green energy advocates.
With the 31.3% improvement in Germany’s trade surplus with America, German exporters have shown that their competitive advantages in mechanical and chemical engineering have spearheaded a major rebound from last year’s weak performance.
Germany definitely has the upper hand in trade with the United States so far in 2010.
Sources: This analysis presents independent calculations and insights based on the United States International Trade Commission’s Interactive Tariff and Trade Dataweb
Daniel Workman - A senior business and finance writer who also does French translations, notably international trade and insurance materials.
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