EU imported goods worth €472 bn from China in 2021

06 Apr '22

2 min read

Pic: Shutterstock.com

EU's trade with China, the bloc's third-largest export destination and the largest import partner, increased significantly in 2021, according to Eurostat, the statistical office of the European Union (EU). Imports from China were highest in 2021 (€472 billion) and lowest in 2013 (€239 billion). The average year-on-year growth rate for imports was 6 per cent during this period.

Between 2011 and 2021, EU exports to China were highest in 2021 (€223 billion) and lowest in 2011 (€127 billion), registering an average year-on-year growth rate of 7 per cent. EU also continuously recorded a trade deficit with China, increasing from €129 billion in 2011 to a peak value of €249 billion in 2021.

The COVID-19 crisis caused both exports and imports between the EU and China to slow down in the first months of 2020, but both recovered over the following months.

In 2021, China was the third-largest partner for EU exports of goods (10 per cent of extra-EU exports), trading mainly machinery and vehicles (52 per cent of exports to China), other manufactured goods (20 per cent) and chemicals (15 per cent).

China was also the largest partner for EU imports of goods (22 per cent of extra-EU imports) in the same product groups that are machinery and vehicles (56 per cent of imports from China), other manufactured goods (35 per cent) and chemicals (7 per cent) in 2021.

Fibre2Fashion News Desk (SF)

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