China-Germany trade hit record high last year

The trade volume between Germany and China rose to a record level last year, and China has become Germany's most important trading partner for the seventh consecutive year.

Merchandise trade between the two countries totaled around 298 billion euros, up around 21 percent from 2021, according to data obtained by Reuters from Deutsche Statistics Office.

In 2022, Germany will import goods worth about 191 billion euros from China, a third more than in 2021; Germany's goods exports to China will increase by 3.1%, to around 107 billion euros.

Germany is dependent on China for key raw materials needed for the transition to cleaner energy and transport, said Lukas Menkelhoff, head of the global economics department at the German Institute for Economic Research.