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FACTDROP: China surpasses US as EU's top trade partner
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10/16/2011

China surpasses US as EU's top trade partner


Πηγή: China Daily
By Xinhua
Oct 16 2011

BEIJING - Trade between China and the European Union (EU) totaled 35.6 billion euros ($49.4billion) in July, allowing China to overtake the United States as the EU's largest trade partner,the Ministry of Commerce said, citing the latest statistics from Eurostat.

The overall value of China-EU trade in July exceeded that of the EU and the United States by800 million euros, accounting for 13.4 percent of the region's total imports and exports,according to data released by the EU's statistics office.

However, bilateral trade shrank for a second consecutive month in July, falling 0.8 percent fromthe same period last year.

Meanwhile, China remained the EU's second largest export market. EU exports to China totaled11.7 billion euros in July, up 12.3 percent year-on-year, which is higher than EU's total exportgrowth rate of 4.1 percent.

The EU imported 23.9 billion euros in Chinese goods, down 6.2 percent from the previous year.But China still held the top spot as the region's import source, making up 17.4 percent of theEU's total imports.

The EU reported a 12.2-billion-euro trade deficit with China in July.


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