Germany, the largest economy in Europe, recorded a trade surplus of 17.7 billion euros (about 27.72 trillion won) against the United States in the first quarter of this year.
The Federal Statistical Office of Germany noted that exports to the United States in the first quarter reached 41.2 billion euros (about 64.52 trillion won), which was 75% higher than imports worth 23.5 billion euros (36.8 trillion won) on the 20th (local time).
The surplus in the automotive and automotive parts institutional sector was 7.8 billion euros, the largest. This represents a 26% increase from the first quarter of last year. Germany exported 9.1 billion euros of automobiles and parts, while imports amounted to only 1.3 billion euros.
The pharmaceutical (4.2 billion euros), machinery and equipment (3.7 billion euros), and electronics (2.5 billion euros) institutional sectors also saw higher exports than imports.
The United States recorded a surplus in raw materials and agricultural products against Germany, including energy (3 billion euros), fruits and nuts (400 million euros), and soybeans (260 million euros).
The United States and the European Union (EU) are negotiating tariff rates. Germany's weekly magazine Der Spiegel commented that the first quarter trade surplus indicates which institutional sector would be most severely impacted if the tariff negotiations between the U.S. and the EU fail.
Germany is one of 15 countries that post a large trade surplus against the United States. U.S. President Donald Trump previously pointed to automobiles as the cause of trade imbalance during his campaign, saying, "I will make German car companies American companies." Last year's trade surplus of Germany against the United States was 69.9 billion euros (about 109.55 trillion won).