In the year 2024, the trade relationship between the European Union (EU) and China has shown a specific imbalance. According to recent data, the EU exported goods to China worth 213.3 billion euros, while imports from the Asian giant reached 517.8 billion euros, resulting in a trade deficit of 304.5 billion euros. This scenario has solidified China as the EU’s top trading partner in terms of imports, accounting for 21.3% of all purchases made outside the EU. In terms of exports, China ranks third, with 8.3% of the total, highlighting its significance in European foreign trade.
However, compared to 2023, the data has shown a slight decline in trade, with a 0.5% decrease in imports and a 4.5% decrease in exports. Despite these reductions, it is noteworthy that between 2014 and 2024, imports from China have significantly increased by 101.9%, while exports have seen a 47% increase.
In 2024, the main products imported from China include electrical machinery and parts, totaling 96.8 billion euros. Telecommunications and audio equipment also stand out, reaching 60.9 billion euros, as well as office and data processing machines, representing another 45.9 billion euros. Together, these product groups make up 39.3% of all Chinese imports into the EU.
Despite the significant trade deficit, the relationship between the EU and China continues to evolve. Increases in import figures reflect a strong dependence of Europe on Chinese products, sparking particular interest among analysts and authorities. This phenomenon is observed in a dynamic global context that poses various implications for trade and economic policies in the near future.
Referrer: MiMub in Spanish