In 2024, China was the third largest partner for EU exports of goods and the largest partner for EU imports of goods. The EU exported goods worth €213.3 billion to China and imported €517.8 billion, resulting in a trade deficit of €304.5 billion. Only Ireland and Luxembourg reported trade surpluses with China, while the other 25 EU countries experienced deficits. The Netherlands faced the largest deficit at €85 billion. China remained the EU’s largest trade partner for imports, accounting for 21.3% of the total, followed by the United States and the United Kingdom. China was also the third-largest export partner for the EU, after the United States and the United Kingdom. Both imports and exports decreased in 2024 compared to the previous year. Between 2014 and 2024, imports from China increased by 101.9%, while exports grew by 47.0%.
The three largest importers from China in the EU were the Netherlands, Germany, and Italy, while the three largest exporters to China were Germany, France, and the Netherlands. EU exports of manufactured goods had a much higher share than primary goods, with machinery and vehicles, other manufactured goods, and chemicals being the most exported products. Similarly, EU imports of manufactured goods represented 97% of total imports, with primary goods making up just 2%. The most imported products from China were electrical machinery, appliances, telecommunications and audio equipment, and office machines and data-processing machines, accounting for nearly 40% of all imports from China.
Overall, China’s trade relationship with the EU has been significant, with the country being the largest partner for EU imports of goods in 2024. While the trade deficit may be a concern for some EU countries, others like Ireland and Luxembourg have been able to maintain surpluses with China. The growth in imports from China over the past decade has been considerable, indicating the importance of the Chinese market for the EU. Despite some declines in exports and imports in 2024, the overall trend has been one of growth in trade between China and the EU.
The Netherlands faced the largest trade deficit with China among EU countries in 2024, highlighting the challenges that certain countries may face in their trade relationships with China. However, other countries like Germany and France have been able to maintain strong export relationships with China, with Germany being one of the top exporters to China. The dominance of manufactured goods in both exports and imports between the EU and China reflects the nature of their trade relationship, with machinery and vehicles being a significant portion of exports from the EU to China.
As China continues to be a major player in global trade, its relationship with the EU will likely remain important for both parties. The diversification of trade partners, as seen with Ireland and Luxembourg, shows that there are opportunities for EU countries to balance their trade relationships with China. The significant growth in imports from China over the past decade signals the increasing importance of the Chinese market for the EU, while also presenting challenges in terms of trade deficits for some EU countries. Overall, the trade relationship between China and the EU is complex, but remains a vital aspect of both regions’ economies.
