China Imports To EU Continue Their Rise

The latest EU25 trade data from Eurostat highlight the competitive challenge some European companies face from the fast-growing Chinese economy:

Imports from China in the first four months of this year, at ?45.3bn ($54.5bn, ?31.5bn), were 19 per cent higher than the same period a year before. Imports from the US remained almost flat at ?52.6bn. In contrast, EU exports to China fell by 1 per cent to ?15.2bn, while exports to the US rose by 2 per cent…..

China?s economic expansion suggests the rate of growth of exports to the EU is likely to be maintained. By the end of this year, imports from China could be almost three times higher than the level in 1999. That increases the pressure on domestic producers, as well as eurozone exporters.

Financial Times

EU25 trade was characterised by an increase in the EU25 surplus with the USA (+24.2 bn euro in January-April 2005 compared with +23.0 bn in Januar y-April 2004 ) and Switzerland (+ 6.0 bn compared with +3.8 bn). The EU25 trade deficit grew with China (-30.1 bn compared with -22.8 bn), Russia (-16.3 bn compared with -11.5 bn) and Norway (-10.0 bn compared with -8.0 bn), and fell with Japan (-9.9 bn compared with -11.5 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+ 55.0 bn euro in January-April 2005 ), followed by the Netherlands (+ 11.8 bn), Ireland (+ 10.8 bn) and Sweden (+ 5.8 bn) . The
United Kingdom (-30.7 bn) registered the largest deficit, followed by Spain (-22.6 bn) , Greece (-10.4 bn) and France (-9.9 bn).

Source: Eurostat