Goods exports to China increased by 16 per cent to €11.8 billion during the period, according to Statistics Netherlands (CBS).

The drop in import value followed a rise of €17 billion in 2022 that was partly due to price rise, CBS said in a release.

In the first seven months this year, imports from China by the European Union (EU) as a whole fell by over €45 billion from €352 billion to €306.5 billion. Forty-three per cent of the decline was related to sharply lower imports of Chinese-manufactured goods by Germany—from €77 billion to €57 billion.

Germany was still the largest importer of goods from China within the EU during the first seven months of 2022; the Netherlands took over that position in the same period in 2023.

German exports to China fell by 8 per cent to just under €58 billion in the seven-month period. The country retained its position as largest exporter to China within the EU.

Fibre2Fashion News Desk (DS)