In detail, the statistical report pointed out the trade between China and EU was growing very rapidly. Since 2000, the EU exports to China have grown from €26 billion to €78 billion by 2008, which held 6% of EU's total exports; and € 248 billion of EU imports from China, compared with € 75 billion in 2000, took up 16% of EU's total imports. The EU trade deficit with China reached € 169 billion in 2008. China's proportion of EU's foreign trade has more than doubled in the last eight years.
Among the 27 member countries, Germany was still the top one trade partner with China. Its exports to China accounted for 43% of total EU exports to China, followed by France, Italy and UK; German imports from China accounted for 21% of EU total imports from China, followed by the Netherlands, UK, and Italy.
In term of the structure of products, 60% exported from EU to China are machinery and equipment, motor vehicles, electrical and electronic parts and components, ships, aircraft and railway equipments, and 20% other manufacturing products. For services in trade in 2008, EU reached € 20.3 billion of services on trade exports to China and € 14.5 billion on imports. The EU trade surplus is € 5.8 billion.
To sum up, following the US, China keeps its position as the second largest trade partner of the EU. This is a trend that will continue and it is clear that the EU will pay more and more attention to China market. EU becomes an important economic and trade partner of China, working as the largest technology supplier to, the third largest trading partner with and the fifth largest actual investor in China.
