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.
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Start your day informed with the AnewZ Morning Brief. Here are the top stories for 13 June, covering the latest developments you need to know.
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