China is now the EU's largest trading partner, ahead of the United States

In 2020, China has emerged as the largest trading partner of the European Union (EU), surpassing the United States.
China is now the EU's largest trading partner, ahead of the United States
Such a picture emerges, according to the EU's statistics office. This information has been published in a report of BBC, an international media based in the UK.

Last year, trade between the EU and China reached 609 billion. Imports and exports between the United States and the EU amounted to 671 billion. China was the only country in the global economy to improve in 2020. The main reason the economy did not collapse was that during the crisis, China mainly exported medical equipment and electronics products to Europe.

According to the EU Statistics Office, China was the main partner of the European Union in 2020. This result is due to the increase of more than 5.6 percent imports and more than 2.2 percent exports.

The EU's figures are in line with those released by the Chinese government last January. According to China, China's trade with the EU rose 5.3 percent to 696.4 billion in 2020.

The EU's trade deficit with China also widened from 199 billion to 219 billion, according to the EU's statistics office on Monday.

Post a Comment

0 Comments