- Europe, like you've never read before -
Wednesday, 28 May 2025
No Result
View All Result
  • it ITA
  • en ENG
Eunews
  • Politics
  • World
  • Business
  • News
  • Defence
  • Net & Tech
  • Agrifood
  • Other sections
    • Culture
    • Diritti
    • Energy
    • Green Economy
    • Finance & Insurance
    • Industry & Markets
    • Media
    • Mobility & Logistics
    • Sports
  • Newsletter
  • European 2024
    Eunews
    • Politics
    • World
    • Business
    • News
    • Defence
    • Net & Tech
    • Agrifood
    • Other sections
      • Culture
      • Diritti
      • Energy
      • Green Economy
      • Finance & Insurance
      • Industry & Markets
      • Media
      • Mobility & Logistics
      • Sports
    No Result
    View All Result
    Eunews
    No Result
    View All Result

    Home » Business » EU reduces trade deficit with China, but still at 291 billion euros. Car imports grow

    EU reduces trade deficit with China, but still at 291 billion euros. Car imports grow

    Brussels cuts the deficit with Beijing by more than a quarter from an all-time high in 2022. Chinese cars worth 3.5 billion euros entered into EU, 37 percent more than in the previous year

    Simone De La Feld</a> <a class="social twitter" href="https://twitter.com/@SimoneDeLaFeld1" target="_blank">@SimoneDeLaFeld1</a> by Simone De La Feld @SimoneDeLaFeld1
    4 March 2024
    in Business

    Brussels -“De-risking, not decoupling.” After the almost 400 billion euro record in 2022, Brussels sounded the alarm on the trade imbalance with China. The risk reduction strategy inaugurated by the EU has already reversed the trend: Eurostat data show that in 2023, the trade deficit with Beijing was 291 billion, 27 percent less than the previous year. In December, during the 24th EU-China Summit, European Commission President Ursula von der Leyen made it clear that with the term de-risking, the EU intends to “address excessive dependencies and diversify supply chains,” as even in 2023, China was the EU’s largest partner for EU imports of goods. Member Countries buy a fifth of the bloc’s non-EU imports from the Asian giant: more than the United States (13.7 percent), the United Kingdom (7.2 percent), Switzerland (5.5 percent) and Norway (4.7 percent).

    On the other hand, the EU exports 8.8 percent of its total exports to China. It is the third largest destination, preceded by the United States (19.7 percent) and the United Kingdom (13.1 percent). Among EU member states, the Netherlands was the largest importer of Chinese products in 2023, worth 117 billion euros, followed by Germany (95 billion) and Italy (48 billion). Berlin is the only country in the EU – besides Luxembourg, but with significantly larger numbers – to have a positive trade balance with China: in fact, Germany exported goods worth 97 billion euros to the People’s Republic, making it the largest exporter to Beijing, followed by France (25 billion) and the Netherlands (22 billion). Made in Italy exports goods to China worth 19 billion euros. Compared to last year, the trade balance between Brussels and Beijing has hinted at a movement toward rebalancing, with one significant exception: cars and motor vehicles. A fear repeatedly raised by the EU, which, in October, launched an investigation into the People’s Republic’s subsidies in electric car production, the 2023 figure confirms Brussels’ concerns. Chinese cars worth 3.5 billion euros entered the EU market, 36.7 percent more than in 2022.

    Flourish logoA Flourish chart

    Telecommunication equipment remains in first place among products imported from China, although it dropped from 63.1 billion in 2022 to 56.3 billion in 2023. Electrical machinery and apparatus (36.5 billion) and automatic information processing machines (36 billion) are in second and third place, respectively. The largest decline was in the import of organo-inorganic and related compounds, used as catalysts in chemical reactions, with a 45.4 percent drop compared with 2022.

     

     

    English version by the Translation Service of Withub
    Tags: cinacommercio

    Related Posts

    World politics

    The 13th package of EU sanctions on Russia is official. China and North Korea also hit

    23 February 2024
    Il 5G è già superato. E' iniziata la corsa al 6G [foto: imagoeconomica, rielaborazione Eunews]
    Net & Tech

    Race to 6G already on, China ahead of EU

    5 February 2024
    map visualization
    Flourish logoA Flourish map
    Kaja Kallas

    The EU adopts a strategy for the Black Sea after three years of war in Ukraine

    by Francesco Bortoletto bortoletto_f
    28 May 2025

    The EU executive has announced a new initiative to project itself as a geopolitical power in the strategic region linking...

    EU structural funds fraud, 39 investigated in Italy

    by Emanuele Bonini emanuelebonini
    28 May 2025

    The European Public Prosecutor's Office (EPPO) uncovers a criminal conspiracy aided by public officials of the Campania Region and a...

    italiani

    Italians trust EU institutions more than their own government

    by Marco La Rocca
    28 May 2025

    According to the latest Eurobarometer survey, trust in the EU (49 percent) exceeds trust in the national government (34 percent)...

    ue target clima

    EU (almost) on track to meet climate goals. Eyes now on 2040: Ribera calls for 90 pct emissions cut

    by Simone De La Feld @SimoneDeLaFeld1
    28 May 2025

    According to the European Commission, we are 'on course' to reduce net greenhouse gas emissions by 54 percent by 2030...

    • Director’s Point of View
    • Letters to the Editor
    • Opinions
    • About us
    • Contacts
    • Privacy Policy
    • Cookie policy

    Eunews is a registered newspaper
    Press Register of the Court of Turin n° 27


     

    Copyright © 2025 - WITHUB S.p.a., Via Rubens 19 - 20148 Milan
    VAT number: 10067080969 - ROC registration number n.30628
    Fully paid-up share capital 50.000,00€

     

    No Result
    View All Result
    • it ITA
    • en ENG
    • Politics
    • Newsletter
    • World politics
    • Business
    • General News
    • Defence & Security
    • Net & Tech
    • Agrifood
    • Altre sezioni
      • European Agenda
      • Culture
      • Diritti
      • Energy
      • Green Economy
      • Gallery
      • Finance & Insurance
      • Industry & Markets
      • Letters to the Editor
      • Media
      • Mobility & Logistics
      • News
      • Opinions
      • Sports
    • Director's Point of View
    • L’Europa come non l’avete mai ascoltata
    • Draghi Report
    • Eventi
    • Eunews Newsletter

    No Result
    View All Result
    • it ITA
    • en ENG
    • Politics
    • Newsletter
    • World politics
    • Business
    • General News
    • Defence & Security
    • Net & Tech
    • Agrifood
    • Altre sezioni
      • European Agenda
      • Culture
      • Diritti
      • Energy
      • Green Economy
      • Gallery
      • Finance & Insurance
      • Industry & Markets
      • Letters to the Editor
      • Media
      • Mobility & Logistics
      • News
      • Opinions
      • Sports
    • Director's Point of View
    • L’Europa come non l’avete mai ascoltata
    • Draghi Report
    • Eventi
    • Eunews Newsletter

    Attention