WORLD China edges past US as Europe's top trade partner

WORLD

China edges past US as Europe's top trade partner

AFP

14:20, December 04, 2020

File photo

PARIS (AFP) - China pushed past the United States in the third quarter to become the European Union's top trade partner, as the Covid-19 pandemic disrupted the US while Chinese activity rebounded.

Over the first nine months of 2020, trade between the EU and China totalled €425.5 billion (S$688 billion), while trade between the EU and the United States came in at €412.5 billion, according to Eurostat data.

For the same period in 2019, the EU's trade with China came in at €413.4 billion and €461 billion with the US.

Eurostat said the result was due to a 4.5 per cent increase in imports from China while exports remained unchanged.

"At the same time trade with the United States recorded a significant drop in both imports (-11.4 per cent) and exports (-10 per cent)," Eurostat said.

The EU has been China's top trade partner since 2004 when it overtook Japan, but this is the first time the inverse has been true, France's Insee statistics agency said on Wednesday (Dec 2).

After a Covid-19-related shock in the first quarter the Chinese economy has rebounded, with the economy growing year-on-year in the third quarter.

Insee said Chinese imports from Europe picked up in the third quarter, while purchases of personal protective equipment had boosted Chinese exports.


Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue