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China is now EU’s biggest trading partner

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BRUSSELS: China last year overtook the United States as the EU’s biggest trading partner, the EU statistics agency Eurostat said on Monday.


Britain meanwhile, which is no longer part of the European Union, was the third-largest trading partner for the bloc, behind China and the United States, the agency said.


The supremacy of China came after it suffered from the coronavirus pandemic during the first quarter but recovered vigorously with consumption even exceeding its level of a year ago at the end of 2020.


This helped drive sales of European products, particularly in the automobile and luxury goods sectors, while China’s exports to Europe benefited from strong demand for medical equipment and electronics.


Eurostat said the trade volume with China reached 586 billion euros ($711 billion) in 2020, compared to 555 billion euros ($673 billion) for the US. — AFP


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