German exports to China fell for the first time in a year

The German Statistics Office said that German exports to China fell for the first time in nearly a year during the month of July, falling by 3.9% on an annual basis to 8.4 billion euros ($ 9.9 billion). This was the first drop in exports to China, Germany's second-largest sales market outside the European Union, since August 2020, and the biggest drop was in May 2020 amid the coronavirus pandemic.

The German Statistical Office also added that exports of Germany, Europe's largest economy, to the United States rose by 15.3% to 10.8 billion euros during the month of July.