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China EU top trading partner

18 Sep, 2020 - 00:09 0 Views

The Herald

In the first seven months of 2020, China became the top trading partner of the European Union (EU), a position previously held by the United States, said Eurostat on Wednesday.

EU’s imports from China increased by 4,9 percent in the January-July period, compared to the same period last year, whereas its imports from the US dropped by 11,7 percent.

The bloc’s exports to China recorded a slight drop of 1.8 percent, while those to the US fell by 9,9 percent, according to the EU’s statistical office.

China and US were followed by the United Kingdom, Switzerland, and Russia on EU’s main trading partner list in the first seven months.

In accordance with the world’s changing epidemiological situation during the first seven months, the EU’s international trade started to fall in January, and regained momentum after May, when confinement measures were gradually eased.

In July, EU exports out of the bloc stood at €168,5 billion, down by 11,3 percent compared to July 2019, and its imports from the rest of the world reached €142,6 billion, down by 16 percent year-on-year, according to Eurostat estimates. — Xinhua.

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