China has become the main trading partner of the European Union (EU) in 2020, and exports and imports have increased despite the COVID-19 pandemicEurostat said earlier this week.
Key Comments:
“Yes OK China’s total imports and exports of goods expanded 1.9% year-on-year to 32.16 trillion yuan (about 5 trillion US dollars) in 2020, reaching a record, the increase in trade with the EU was more than double the average growth rate“.
“The block’s imports from China throughout the year 2020 grew by 5.6% year-on-year to 383.5 billion euros (465 billion dollars), and exports grew by 2.2% up to 202.5 billion euros “.
“Official data from China released in mid-January showed that trade with the EU grew 5.3% to 4,495.77 billion yuan, or almost 600 billion euros, in 2020“.
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