The United States became the top buyer of German exports in 2015, overtaking France for the first time in more than 50 years, data from Germany’s Statistics Office showed Saturday, according to Reuters. German exports to the U.S. reportedly rose by 19 percent to 114 billion euros ($127 billion) in 2015, while exports to France rose 2.5 percent to 103 billion euros ($114.66 billion) from a year ago.
Economists surveyed by Reuters said the picture was unlikely to change any time soon. "This is more of a long-term trend," Simon Juncker, an expert at Germany's DIW economic institute, told Reuters, adding that solid U.S. growth rates were partly responsible for the rising demand for German goods.
Last year was also the first time German exports to the U.S. crossed the 100 billion euro-mark ($1.1 billion), helped by a stronger performance by the U.S. economy and a weaker euro. According to the U.S. Census Bureau, the U.S. imported goods and services worth $124.14 billion from Germany in 2015.
"The American economy is currently experiencing a stable economic upturn, which benefits German companies," Bernhard Mattes, head of the American Chamber of Commerce in Germany, told Reuters.
"This also includes low energy prices, a comparatively low U.S. wage level and the weak external value of the euro," he added.
The euro has lost about a fifth of its value against the dollar since mid-2014. However, as France and Germany both use the euro, France did not get an added benefit from the depreciation as the U.S.
Germany is the third-largest exporter in the world. Its top exports are cars, machines, engines, electronic equipment and pharmaceuticals.