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$ 87.74
€ 95.76

China became the main trading partner of the EEC in 2020

tradeinChina has increased the volume of exported and imported goods despite the coronavirus pandemic.

China's imports have increased by 5.6 percent during 2020 to 383.5 billion euros, while exports have increased by 2.2 percent to 202.5 billion euros, according to the EU Statistical Office.

Eurostat's release coincided with official data from China released in mid-January, which showed that trade with the EU has increased by 5.3 percent to 4.495.77 billion yuan.

This amounted to almost 600 billion euros in 2020. While China's total merchandise imports and exports have increased to 32.16 trillion yuan (about US $ 5 trillion) in 2020, hitting a record high, the growth in trade with the EU has more than doubled the average growth rate.

“This result speaks to the strong resilience and importance of economic and trade cooperation between China and the EU,” said Zhang Ming, head of the Chinese Delegation to the EU, at a webinar with the European think tank Friends of Europe.

In addition, the EU noted that the volume of trade with other countries also has increased in December 2020. Thus, financial turnover has increased by 6.6 billion euros compared to the same month in 2019.

Let us note that trade with the United States, which until the beginning of 2020 topped the list of EU trading partners, dropped significantly both in terms of exports and imports.