US was Germany's top export market in 2024 amid tariff dispute fears

The United States was Germany's top export market in 2024, official figures showed on Monday.

The Federal Statistical Office said Germany exported €161.3 billion ($183.8 billion) in goods to the US last year, consisting of 10.4% of all German exports - the highest US share of the German export market since 2002.

Germany's export-based economy is set to be hard hit by US President Donald Trump's aggressive new tariff policy.

Germany currently faces a 10% duty on all imports to the US, with levies of 25% on cars, aluminium and steel also in place.

A 20% tariff on all goods from the European Union has been paused for 90 days.

The country's pharmaceutical sector is particularly vulnerable to the new US tariff policy, with 23.8% of exports, worth around €27 billion, being delivered to the US in 2024.

Other German exports likely to be affected include aircraft, medical equipment and gas turbines.

Germany's imports from the United States could also be affected by retaliatory EU tariffs, which were suspended last week.

The US is the third-largest exporter to Germany, behind only China and the Netherlands.

Some €91.5 billion in US goods went to Germany last year, consisting of 7% of all German imports.

A high share of German imports in the pharmaceutical and chemical sectors came from the United States, while other important US goods included gas, coal and soybeans.