German Trade with Asia: Diverging Developments in the First Half of 2025

Hamburg, August 25, 2025 – German foreign trade with the Asia-Pacific region presented a mixed picture in the first half of 2025. Imports from the region increased significantly by 9.4% compared with the same period of the previous year, reaching EUR 151.2 billion, while exports declined by 5.5%. As a result, Germany’s trade deficit widened considerably. By comparison, across German foreign trade as a whole, imports increased by 4.4%, while exports remained virtually unchanged (-0.1%).

The development in trade with China was particularly pronounced: German imports from the People’s Republic increased by 10.6% to EUR 81.3 billion, while exports fell by 14.2% to EUR 41.4 billion. The main reasons were a drastic decline of more than 75% in passenger car exports in the first quarter and a decline of more than 50% in automotive parts exports. Increasing competition from Chinese electric vehicle manufacturers and the localization of German production in China are also weighing on exports.

By contrast, trade with Japan developed positively: Exports increased by 21.5% to EUR 12.0 billion, while imports declined by 3.7%. With bilateral trade exceeding EUR 23 billion in the first half of 2025, Japan remains Germany’s second-largest trading partner in the region. South Korea, on the other hand, recorded declining figures: exports fell by 9.4% to EUR 9.1 billion, while imports declined by 3.7%. As a result, the region’s third-largest market for German exports is losing some momentum. Australia showed a mixed picture: German imports increased sharply by 29.6%, while exports declined by 8.9%.

Foreign trade with India recorded solid growth in the first six months of the year: exports increased by 7.8% to EUR 8.0 billion, while imports rose by 9.6%. These positive figures currently confirm the German business community’s optimistic expectations regarding the Indian subcontinent. Bangladesh recorded declining exports (-6.2% to EUR 247.6 million) alongside rising imports (+12.5% to EUR 4,561.4 million), while Sri Lanka increased exports by 5.1% to EUR 113.6 million and imports by 16.1% to EUR 536.0 million.

The ASEAN region also showed dynamic growth: exports increased by 14.2% to EUR 14.7 billion, while imports rose by 13.9% to EUR 28.2 billion. Vietnam (+23.1% imports; +5.0% exports), Thailand (+16.2% imports), and Cambodia (+23.3% imports; +52.3% exports) recorded particularly strong growth. Singapore and Malaysia showed mixed developments: while imports increased, exports declined.

Overall, the trade figures for the first half of 2025 highlight a growing asymmetry: Germany is importing significantly more goods from the Asia-Pacific region, while exports to many markets are losing momentum—with Japan, India, and parts of the ASEAN region being notable exceptions.

As the network of German business in Asia, the OAV represents companies of all sectors and sizes. Since its foundation in 1900, it has successfully served as a platform for the exchange of views and experience as well as for strategic discussions.