EU trade deficit – China was assessed by MEPs

The trade deficit of the United States of America with China was one of the main reasons for the commencement of the financial crisis facing Europe, but also with a trade deficit in the relationship with China.

While the developed countries ‘ markets are on the verge of recession, China has become the market outlets for many of European exporters. In 2010, they have delivered the goods and services worth approximately EUR 113.1 billion to China. But complaints about unfair trade practices, of a value of the yuan artificially low and political obstacles imposed by the Government in Beijing is still in serious trouble. The graph on the right shows that the EU’s trade deficit with China was 168.6 billion in 2010.

Europe exports mainly machinery and transport equipment (more than 60% of total EU exports in 2010), chemical products and raw materials. Imports from China include consumer goods, including telecommunications and office equipment and clothing.