Soaring imports deepen EU-China trade deficit

Soaring imports from China by the European Union is increasing trade deficit by more than a third compared to last year, said the EU statistics office.

Imports from China to the EU have jumped by more than a fifth in 2021 to $522 billion (472 billion euros) compared to 2020, showed Eurostat data, widening the bloc’s trade deficit with the country to 249 billion euros.

The EU’s exports to China have grown by just 10%.

The report comes at a time when EU and Chinese leaders are scheduled to have their first summit in two years, with Brussels scheduled to pressurise China for assurances to not supply Russia with arms or help Moscow circumvent Western sanctions.

In 2021, China was the EU’s largest import partner and third-biggest export destination after the United States and Britain, showed data from Eurostat,

Telecoms equipment, data processors and electrical kit made up the bulk of EU imports from China, while the bloc exported cars and car parts to China.

Netherlands posted the largest deficit at nearly 95 billion euros while Germany recorded the largest surplus.



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