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EU, China trade declines

Staff writer |
Over the last decade, EU28 international trade in goods with China is characterised by a strong increase in the share of China in the EU28's total trade in goods and a continuous deficit, according to Eurostat.

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The data for the first six months of 2013 show a decline in both EU28 exports and imports to China, though more significantly for imports than for exports. EU28 exports to China fell from 73 billion euro in the first six months of 2012 to 71 billion in the first six months of 2013, while imports decreased from 141 billion to 134 billion.

The share of exports to China in the EU28 total rose from 4% in 2002 to 8.6% in 2012, while the share of imports from China also grew, from 9.6% to 18.5% in 2010 and then declined to 16.2% in 2012. As a result, the EU28 trade deficit with China which had increased from 55 billion euro in 2002 to a peak of 171 billion in 2008, fell to 147 billion in 2012.

As a result, the trade deficit reduced from 68 billion in the first six months of 2012 to 62 billion in the first six months of 2013. China is the EU28's second most important trading partner after the USA.

On the occasion of the 16thEuropean Union - China summit, which will take place on 20 and 21 November 2013 in Beijing, Eurostat, the statistical office of the European Union, issues data on trade and investments between China and the EU.

Among the EU28 Member States, Germany (32.4 billion euro or 45% of EU exports) was by far the largest exporter to China in the first six months of 2013, followed by France (7.2 billion or 10%) and the United Kingdom (6.3 billion or 9%). Germany (27.7 billion or 21% of EU imports) was also the largest importer, followed by the Netherlands3(24.9 billion or 19%), the United Kingdom (18.5 billion or 14%), France (11.9 billion or 9%) and Italy (11.5 billion or 9%).

All Member States, except Germany (+4.7 billion euro) and Finland (+0.5 bn), registered deficits in trade with China in the first six months of 2013. The largest deficits were observed in the Netherlands3(-20.9 bn), the United Kingdom (-12.2 bn), Italy (-6.7 bn), France and Spain (both -4.7 bn).