China is Second Biggest Source of Imports of the European Union

China is Second Biggest Source of Imports of the European UnionChina is secured in its position as the biggest source of imports of the European Union and the share of all imports from the outside world amounting to 20 percent in 2015. For the extra EU trade, the main country of origin of imported goods into the European Union was China followed by the U.S. then Russia.

China also ranked second for the destination of EU exports with a share of ten percent last year in all extra EU exports following U.S. which shared 21 percent. All in all China and the EU’s trade was worth 521 billion euros in 2015 and China’s share of the total European Union trade has doubled since 2002 an increase of 7 percent to 15 percent. The figures made China the second biggest goods trading partner for the EU, after the United States in which the trade volume reached 619 billion euros or 18 percent of the total trade in goods.

Data has shown that the US and China are ahead of the European bloc’s other partners, showing Switzerland in third place with bilateral trade value worth 253 billion euros or 7 percent. Russia’s share in the total European Union trade has declined to 6 percent.

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