Source: Tanjug | Tuesday, 22.09.2020.| 12:10
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China Pushes out USA to Become Main Trade Partner of European Union

Illustration (Photo: cybrain/shutterstock)
China has become the main trade partner of the European Union in the January-July 2020 period, pushing out the USA from the top position it held in the same period last year, as shown by the Eurostat data.

The total foreign trade of the EU with China in the first seven months of the current year amounted to EUR 328.7 billion, and the trade with the USA amounted to EUR 323.5 billion, as announced on the website of the European statistics agency.

In the observed period, the exports of the 27-member block to China amounted to EUR 112 billion and is 1.8% lower y-o-y, whereas the imports from China grew by 4.9% y-o-y to EUR 216.7 billion.

At the same time, in the seven-month period, the export of the EU to the USA dropped by 9.9% to EUR 203.1 billion, whereas the imports from the USA dropped by as much as 11.7% to EUR 120.4 billion.

Imports from China to the EU grew by 4.9% in the observed period, whereas the imports from the USA dropped by 11.7%.

Even more worrying are the data on the trade between EU and its former member Great Britain, which is Brussels' third biggest trade partner.

In the January-July period, the exports from the EU to Great Britain plummeted by as much as 20.5% to EUR 150.5 billion, whereas the imports from the UK dropped by 16.5% to EUR 94.8 billion.
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