The EU trade with China continues growing, especially exports

Eurostat published that the EU exports to China up by 21% and imports by 5% in the first ten months of 2011. These figures show that despite the general decline in EU exports in 2009, EU exports to China continued to increase. The EU trade deficit with China increased from 49 billions in 2000 to 169 billions in 2010.

Eurostat, the statistical office of the European Union, published its latest data regarding the EU trade in goods with China. The EU exports to China rose continuously from €26 billion in 2000 to 113 billion in 2010. In particular, the EU exports to China up by 21% and imports by 5% in the first ten months of 2011. During this period of time, China was the EU's second most important trading partner after the USA, accounting for 9% of EU exports and 17% of EU imports. In November 2010, the Commission announced a new centre to support EU SMEs willing to export to China.

The figures recently published also show that in 2010, the EU exported €22.4 billion of services to China, while imports from China amounted to 16.4 billion, meaning that the EU had a surplus of 6.0 billion in trade in services with China. The surplus in 2010 was mainly due to surpluses in other business services, royalties & license fees, and computer & information services, partly offset by a deficit in transportation. China accounted for almost 4% of total extra-EU trade in services.

With regard to the exports and imports by Member States, Germany (€53 billion or 48% of EU exports) was by far the largest exporter to China in the first ten months of 2011, followed by France (11 billion or 10%), Italy and the United Kingdom (both 8 billion or 7%). Germany (54 billion or 22% of EU imports) was also the largest importer, followed by the Netherlands (42 billion or 17%), the United Kingdom (32 billion or 13%) and Italy (25 billion or 10%). In addition, except Finland, all Member States registered deficits in trade with China in the first ten months of 2011. The largest deficits were observed in the Netherlands, the United Kingdom, Italy, Spain and France.