EU sees jump in trade to China
Exports from the EU to China dramatically outgrew sales to other countries and regions in the last decade, Eurostat data revealed yesterday. The 27 countries saw exports to China rise consistently from €26bn (£21.78bn) in 2000 to €113bn in 2010, defying the overall drop in exports experienced in 2009. Imports rose from €79bn to €283bn over the period, leaving a trade deficit of €169bn. Data from the first 10 months of 2011 registered a 21 per cent jump in exports on the same period of 2010. German exports represented 48 per cent of the total last year, followed by France with 10 per cent and the UK and Italy with seven per cent each. The UK has the second largest trade deficit with China after the Netherlands, at €24bn in the 10-month period.