In 2024, China was the EU’s biggest import partner and third-largest export destination, with €213.3 billion in exports and €517.8 billion in imports. This resulted in a €304.5 billion trade deficit, while only Ireland and Luxembourg recorded trade surpluses.
China played a crucial role in EU trade in 2024, ranking as the bloc’s top import source and third-largest export market. The EU exported goods worth €213.3 billion to China, while imports reached €517.8 billion, leading to a €304.5 billion trade deficit, according to Eurostat data.
Among EU nations, only Ireland and Luxembourg recorded trade surpluses with China, while the other 25 member states experienced trade deficits. The Netherlands had the highest deficit at €85 billion.
China accounted for 21.3% of the EU’s total imports, followed by the United States (13.7%) and the United Kingdom (6.8%). In terms of exports, China ranked third after the United States (20.6%) and the United Kingdom (13.2%).
Trade volumes between the EU and China declined in 2024 compared to 2023, with imports decreasing by 0.5% and exports dropping by 4.5%. However, over the past decade (2014-2024), imports from China surged by 101.9%, while EU exports increased by 47.0%.
The top three EU importers of Chinese goods were the Netherlands (€109 billion), Germany (€96 billion), and Italy (€50 billion). Meanwhile, Germany (€90 billion), France (€24 billion), and the Netherlands (€24 billion) were the largest EU exporters to China.
Manufactured goods dominated EU-China trade, accounting for 88% of EU exports and 97% of imports. The primary exported goods included machinery and vehicles (51%), other manufactured products (20%), and chemicals (17%).
Similarly, manufactured goods made up nearly all EU imports from China, with primary goods contributing just 2%. The most imported items were electrical machinery, appliances, telecommunications equipment, and office and data-processing machines, which together accounted for nearly 40% of total imports.
U.S. Treasury official Scott Bessent said several large trade deals are nearing completion and that a potential call between President Donald Trump and Chinese President Xi Jinping may be needed to resolve complex issues in ongoing talks.
China has pledged stronger support to Pacific Island nations in combating climate change, offering new investments and infrastructure projects, as it looks to expand its regional influence while U.S. aid remains stalled.
China’s development centered on digital resources is gaining momentum under a new three-year plan aimed at boosting information use to support economic and social growth.
Alashankou Port in Xinjiang continues to play a vital role in global trade, with freight train traffic to Europe and Central Asia surpassing 3,000 trips this year alone.
All eight people reported missing in a sudden mountain torrent in Guangxi, south China, have been confirmed dead, with the last body found 25 kilometres downstream, authorities said.
Think tanks from across the Turkic world gathered in the Turkish Republic of Northern Cyprus (TRNC) for the second edition of a major forum focused on regional cooperation, culture, and strategy.
Moroccan firefighters are battling wildfires for a fourth straight day in the Houara Forest near Tangier, as high temperatures and strong winds complicate efforts to contain the flames.
French President Emmanuel Macron arrived in Singapore Thursday for the final stop of his Southeast Asia tour.
U.S. Treasury official Scott Bessent said several large trade deals are nearing completion and that a potential call between President Donald Trump and Chinese President Xi Jinping may be needed to resolve complex issues in ongoing talks.
White House economic adviser Kevin Hassett said Thursday he expects several trade agreements could be finalized within the next week or two.
AnewZ takes to the streets of Yerevan and Baku to ask a simple yet deeply complex question: How do you see peace between Armenia and Azerbaijan? In the first part of our special report, we hear the hopes, doubts, and scars still shaping people’s perspectives on both sides.
On May 28, the inauguration ceremony of Lachin International Airport was held.
A car drove into crowds of Liverpool fans celebrating the club’s Premier League title in the city centre on Monday evening, injuring dozens including 4 children. A 53-year-old man believed to be the driver was arrested at the scene.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
Kyiv faced a large-scale Russian drone and missile assault overnight, with explosions and gunfire echoing throughout the city, forcing residents to shelter in subway stations.
At least 21 people, including children, have died in floods triggered by heavy rains in Nigeria’s Niger state, officials said.
Think tanks from across the Turkic world gathered in the Turkish Republic of Northern Cyprus (TRNC) for the second edition of a major forum focused on regional cooperation, culture, and strategy.
Moroccan firefighters are battling wildfires for a fourth straight day in the Houara Forest near Tangier, as high temperatures and strong winds complicate efforts to contain the flames.
French President Emmanuel Macron arrived in Singapore Thursday for the final stop of his Southeast Asia tour.
U.S. Treasury official Scott Bessent said several large trade deals are nearing completion and that a potential call between President Donald Trump and Chinese President Xi Jinping may be needed to resolve complex issues in ongoing talks.
Think tanks from across the Turkic world gathered in the Turkish Republic of Northern Cyprus (TRNC) for the second edition of a major forum focused on regional cooperation, culture, and strategy.
Moroccan firefighters are battling wildfires for a fourth straight day in the Houara Forest near Tangier, as high temperatures and strong winds complicate efforts to contain the flames.
French President Emmanuel Macron arrived in Singapore Thursday for the final stop of his Southeast Asia tour.
U.S. Treasury official Scott Bessent said several large trade deals are nearing completion and that a potential call between President Donald Trump and Chinese President Xi Jinping may be needed to resolve complex issues in ongoing talks.
White House economic adviser Kevin Hassett said Thursday he expects several trade agreements could be finalized within the next week or two.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment