Significant increase in EU imports from China: Between 2011 and 2021, the EU continuously recorded a trade deficit with China, increasing from €129 billion in 2011 to a peak value of €249 billion in 2021.
Significant increase in EU imports from China: Between 2011 and 2021, the EU continuously recorded a trade deficit with China, increasing from €129 billion in 2011 to a peak value of €249 billion in 2021.
4 comments
Between 2011 and 2021, both exports to and imports from China increased. In this period, 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%.
As for imports from China, they were highest in 2021 (€472 billion) and lowest in 2013 (€239 billion). The average year on year growth rate for imports was 6% in that period.
In 2021, China was the third-largest partner for EU exports of goods (10% of extra-EU exports), trading mainly machinery and vehicles (52% of exports to China), other manufactured goods (20%) and chemicals (15%).
In 2021, China was the largest partner for EU imports of goods (22% of extra-EU imports) in the same product groups: machinery and vehicles (56% of imports from China), other manufactured goods (35%) and chemicals (7%).
Manufacturing is slowly coming back tho. We probably peaked this year.
Considering the expansion of both EU and Chinese GDP, it is actually not that big of an increase imo.
The CAI needs to happen. Refdit and media bubbles will have you believe otherwise but the trith is the EU wants it to happen.