Why not just talk to her about this? It sounds as if she feels gift giving is perhaps superfluous, and maybe she has found it a struggle to either afford a present, or think of one, or both. I don't see this as a reflection upon her friendship with you. We have stopped gift giving with several couples as we have all struggled to find something original, so we go for a meal soon after Christmas to brighten the winter months. (Some catching up to do this year, of course!)
The next thread for friendship, advice and support if estrangement has affected your life
People eating and drinking on the go
Baby Reindeer - anyone watched it?
Passports not in the drawer I always keep them in. Turning the place upside down.