Trade: China is no longer the most important export partner

China has lost its role as the most important export partner for Saxony's economy. In the first half of this year, the Free State exported goods with a total value of 1.9 billion euros to China, 31 percent less than in the same period last year, as the State Statistical Office announced.

The goods exported to China accounted for around 7 percent of Saxony's total exports of 26.2 billion euros. The Asian country with a gigantic sales market fell into third place as the most important trading partner for Saxony - after the USA and the United Kingdom. “From 2009 to 2024, the People’s Republic was continuously at the top,” said the state office.

Significant decline in exports of cars

The reason for the significant decline is a slump in exports of cars and other automotive products. The value of their goods has almost halved to 760 million euros in the first six months of the current year.

At the same time, the automobile industry is a high-turnover sector and an important employer for Saxony, the statisticians emphasized. On average, around 37,000 people were employed by car and car parts manufacturers in the first half of the year. The Saxon automotive industry generated sales of 11.4 billion euros in the period mentioned. However, compared to the first six months of the previous year, there were around 7 percent fewer employees and 10 percent less sales.

Imports are growing

Conversely, Saxony imported goods from China with a total value of 2.56 billion euros in the first half of the year, 8 percent more than in the same period last year. Overall, the value of goods imported into Saxony fell by 4 percent to 19.2 billion euros.