Be the first to comment!Strong increase in EU27 China exports in first half of 2010
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Between 2000 and 2009, EU27 trade in goods with China tripled in value. EU27 exports to China rose steadily from 26 billion euro in 2000 to 82 bn in 2009, while imports rose from 75 bn in 2000 to a peak of 248 bn in 2008 and then fell to 215 bn in 2009. As a result, the EU27 trade deficit with China increased significantly, from 49 bn in 2000 to 170 bn in 2008 and then dropped to 133 bn in 2009.
The data for the first half of 2010 shows a strong growth in EU27 trade with China. EU27 exports to China increased from 37 bn in the first half of 2009 to 53 bn in the first half of 2010 and imports rose from 103 bn to 125 bn. The trade deficit grew from 65 bn to 71 bn.
In the first half of 2010, China was the EU27’s second most important trading partner after the USA, accounting for 8.5% of EU27 exports and 17.8% of EU27 imports.
On the occasion of the 13th European Union – China summit, which will take place on the 6th of October in Brussels, Eurostat, the statistical office of the European Union, has issued data on trade and investments between China and the EU.
Germany accounts for almost half of EU27 exports to China and nearly a quarter of EU27 imports
Among the EU27 Member States, Germany (25 bn euro or 47% of EU exports) was by far the largest exporter to China in the first half of 2010, followed by France (5 bn or 10%) and Italy (4 bn or 8%). Germany (29 bn or 23% of EU imports) was also the largest importer, followed by the Netherlands2 (21 bn or 17%), the United Kingdom (17 bn or 13%) and Italy (12 bn or 10%).
All Member States registered deficits in trade with China in the first half of 2010, except for Ireland and Finland (both +0.1 bn). The largest deficits were observed in the Netherlands (-19 bn euro), the United Kingdom (-13 bn), Italy (-8 bn), Spain (-6 bn) and France (-5 bn).
More than 60% of EU27 exports to China in the first half of 2010 were machinery and vehicles and one sixth were other manufactured articles, while these two groups accounted for more than 90% of imports. At the detailed level, the main EU27 exports to China included motor cars and aircraft, while the main imports included computers and parts and mobile phones.
