17 Percent of EU Imports from China
The share of China in EU27 trade in goods continued to rise in the first six months of 2009. Germany, the Netherlands and the United Kingdom are the largest trading partners of the People’s Republic.
On the occasion of the 12th European Union-China summit, which will take place on 30 November in Nanjing, Eurostat, the Statistical Office of the European Communities, issues data on trade in goods between China and the EU.
In the first half of 2009, the value of EU27 exports to China fell to 37 bn euro, compared with 39 bn in the first half of 2008, and imports decreased to 103 bn from 112 bn. As a result, the EU27 trade deficit with China dropped from 73 bn in the first half of 2008 to 65 bn in the same period of 2009 .
The fall in EU27 trade with China recorded between the first halves of 2008 and 2009 was less steep than the general downward trend in the EU27’s total external trade, leading to an increase in the share of China in the EU27’s total external trade in goods to more than 7% of exports and 17% of imports in the first half of 2009, compared with 6% and 14% respectively in the first half of 2008. China is the EU27’s second most important trading partner, after the USA. It should be noted that between 2000 and 2008, EU27 trade in goods with China had more than tripled in value, and the share of China in the EU27’s total external trade in goods doubled.
Largest Trading Partner of China
Among the EU27 Member States, Germany (16.2 bn euro or 43% of EU exports) was by far the largest exporter to China in the first half of 2009, followed by France (3.7 bn or 10%), Italy (3.4 bn or 9%), the United Kingdom (2.5 bn or 7%) and the Netherlands 2 (2.1 bn or 6%).
Germany (21.9 bn or 21%) was also the largest importer, followed by the Netherlands 2 (16.0 bn or 16%), the United Kingdom (13.9 bn or 14%), Italy (9.9 bn or 10%) and France (8.7 bn or 9%).
All Member States recorded deficits in trade with China in the first half of 2009, the largest being observed in the Netherlands 2 (-13.9 bn euro), the United Kingdom (-11.4 bn), Italy (-6.5 bn), Germany (-5.6 bn) and France (-5.1 bn).
Nearly 60% of EU27 exports to China in the first half of 2009 were machinery and vehicles 3, and one fifth were other manufactured articles 3, while these two groups accounted for more than 90% of imports. At the detailed level, the main EU27 exports to China included aircraft and motor cars, while the main imports included computers and parts, mobile phones and video games.
More details on imports and exports at: Trade between EU27 States and China
Picture: Handshake between Wen Jiabao, Chinese Prime Minister, and Jose Manuel Barroso (photo: European Commission)
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