The economic relationship between China and the European Union (EU) continues to be a focal point of global trade dynamics. In 2024, both imports and exports between the two economic powerhouses saw a slight decline compared to the previous year. This shift reflects broader market trends, including evolving supply chains, global economic slowdowns, and shifting trade policies.
Despite these fluctuations, China remains a key trading partner for the EU, maintaining a significant role in both imports and exports. Understanding these trade trends is essential for businesses, policymakers, and investors aiming to navigate the changing economic landscape.
EU-China Trade Figures: A Closer Look – InfoCons Consumers Protection Informs You !
In 2024, the EU exported goods worth €213.3 billion to China while importing €517.8 billion worth of goods. This resulted in a substantial trade deficit of €304.5 billion.
China continues to dominate EU imports, accounting for 21.3% of all extra-EU imports, making it the EU’s largest trading partner for incoming goods. On the export side, China ranks as the third-largest destination for EU goods, representing 8.3% of total extra-EU exports.
A Decade of Growth Despite Recent Declines – Learn More with InfoCons Consumer Protection !
Although 2024 saw a slight decline in trade compared to 2023—with imports decreasing by 0.5% and exports dropping by 4.5%—the overall trend over the past decade remains positive. Between 2014 and 2024, EU imports from China surged by 101.9%, while exports increased by 47.0%. This long-term growth reflects deepening economic interdependence between the two regions, despite short-term fluctuations.
Leading Imported Goods from China to the EU – InfoCons Consumers Protection Keeps You Informed !
The EU’s imports from China span a variety of sectors, but a few categories stand out. The most imported products in 2024 included:
- Electrical Machinery, Appliances, and Electrical Parts – Valued at €96.8 billion, these products topped the list of imports, demonstrating the EU’s heavy reliance on China for high-tech components.
- Telecommunications and Audio Equipment – Worth €60.9 billion, this category includes smartphones, networking hardware, and other essential communication devices.
- Office Machines and Data-Processing Equipment – Including personal computers, servers, and related technology, this category accounted for €45.9 billion in imports.
Together, these three product divisions represented 39.3% of all EU imports from China, underscoring the dominance of technology and electronics in the trade relationship.
Future Outlook: What Lies Ahead for EU-China Trade? InfoCons Consumers Protection Informs You !
Looking ahead, EU-China trade dynamics will likely continue to evolve in response to geopolitical shifts, regulatory changes, and market demands. Factors such as supply chain diversification, sustainability initiatives, and digital transformation may play a pivotal role in shaping the future of this economic partnership.
While the slight declines in 2024 indicate short-term adjustments, the long-term trajectory suggests that trade between the EU and China will remain a vital component of the global economy. Businesses and policymakers must stay informed and adaptable to navigate these ongoing changes effectively.
InfoCons – European Organization for Consumer Protection and Promotion of Programs and Strategies , a full member of the World Organization Consumers International , founding member of the Federation of Consumer Associations , and member of ANEC .