EU imports from China have experienced an average annual growth of 6% between 2011 and 2021, according to Eurostat.
Trade between the European Union (EU) and China increased “significantly” in 2021, Eurostat says. Both the bloc’s exports and imports have peaked, according to data released on Friday, widening the EU’s trade deficit with China.
Although the pandemic slowed trade between the two powers in 2020, the following year it not only recovered, but soared. EU exports to China reached €223 billion in 2021, while imports from China stood at €472 billion, in both cases a record high. The average annual growth rate of imports was 6% between 2011 and 2021.
With imports always at a higher level, the EU has continuously run a trade deficit with China over the last decade. This deficit grew from €129 billion in 2011 to a peak of €249 billion in 2021.
In 2021, China was the third largest partner for EU goods exports (10% of extra-EU exports). The main products were machinery and vehicles (52% of exports to China), other manufactures (20%) and chemicals (15%).
On the import side, China is in the lead, as it was the main partner, with the largest orders ending up in the same product categories as exports.
Mariana Espírito Santo
In ECO