EU Export To China More Than Tripled In Last Decade
European Union (EU) exports to China have more than tripled over the last decade, hitting EUR164.7 billion last year.
The value of EU imports of goods from China has significantly increased from EUR129.2 billion in 2004 to a peak of EUR302.5 billion in 2014.
While a drop in imports was recorded in 2009 following the financial crisis, EU exports did not decline in 2009, according to Eurostat, the statistical office of the European Union. Data on trade and investments between China and the European Union was issued Friday, ahead of the EU - China summit, which will take place on Monday in Brussels.
The EU trade deficit with China, continuous during the period 2004-2014, decreased between 2010 and 2013, before growing again in 2014 to -EUR137.7 billion.
EU trade in goods with China is clearly dominated by manufactured goods, which accounted in 2014 for 97 percent of total EU imports from China and 86 percent of EU exports to China.
China is the second most important EU trading partner behind the United States, accounting for 14 percent of total extra EU trade in goods in 2014.
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