U.S. EMBASSY MEETS OWNERS OF GERMAN ‘MITTELSTAND’ COMPANIES

Robin S. Quinville, Deputy Chief of Mission, Embassy of the United States of America with Markus Jerger, CEO of the German Mittelstand BVMW.

Berlin – 23 Jan 2020

Open exchange on economic and employment topics between business owners of the German Mittelstand and the U.S. Embassy in Germany.

In 2018, bilateral trade in goods and services totaled nearly $252 billion, with U.S. exports of $92.4 billion and imports of $159.8 billion. All of the $67.4 billion trade deficit in 2018 was in goods. Bilateral trade in services ($68 billion in 2018) is roughly in balance with a U.S. surplus of $1 billion (up from a $3 billion deficit in 2017). Major U.S. goods export categories to Germany in 2018 were aircraft ($8.9 billion), vehicles ($7.2 billion), machinery ($6.9 billion), optical and medical instruments ($6.7 billion), and electrical machinery ($5.5 billion). Major categories of German exports to the United States in 2018 were machinery ($27.2 billion), vehicles ($25.4 billion), pharmaceuticals ($15.3 billion), optical and medical instruments ($10.6 billion), and electrical machinery ($8.8 billion). Many U.S. imports from Germany are investment goods such as capital equipment, enabling U.S. production and exports. German investments in the United States focus largely on manufacturing, finance and insurance, as well as, wholesale trade. Altogether, U.S. affiliates of German firms employ over 692,000 U.S. workers.

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