What does the EU trade with China?
In this article we zoom in at the trade summit between the European Union and China. Why is this trade summit so important to Europe? And how much does the EU rely on China? See below an overview of EU – China trade:
- China and the EU are ranked as the world's two largest exporters but sit third and fifth on the table for global imports.
- The EU's trade with China hit a 10-year high last year.
- Exports to China hit €210 billion, up from €78 billion in 2008, while imports reached €395 billion compared with €215 a decade earlier.
- The EU now has a trade deficit of €185 billion with China.
- The bloc is quite heavily reliant on its trade relationship with China — last year alone the east Asian country made up 20% of the EU's imports.
- It was also the EU's second largest export partner, behind the US.
Much of the negative speculation focus on the EU's inability to unify its 28 member states, leaving China to search for separate deals.
When looking at China’s import & export partners, the Netherlands, Germany and the United Kingdom made up the top three EU member state importers of Chinese products in 2018, while Germany the UK and France were the top three exporters. In the graphs below you can find the top 10 biggest EU-28 importers and exporters by Member State.