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Image header Agence Europe
Europe Daily Bulletin No. 9547
Contents Publication in full By article 32 / 33
GENERAL NEWS / (eu) eu/statistics

Deepening trade deficit with China

Brussels, 20/11/2007 (Agence Europe) - According to the latest statistics published by Eurostat on Friday 16 November, the EU's trade deficit with China grew to €100.8 billion in the first eight months of 2007. Compared with the same period in 2006, when it reached €80.2bn (not seasonally adjusted), the trade deficit has risen 25.7%, explains the EU's statistic office. Over 2006 as a whole, the EU's trade deficit with China stood at €130.68bn, up 20.4% on 2005. Since 1999, when it stood at €33bn, the EU's trade deficit with China has mushroomed. EU Trade Commissioner Peter Mandelson recently increased pressure on Beijing, repeating his calls for greater openness from China to EU investment and exports (EUROPE 9526). Trade deficit issues and the weakness of the Chinese currency, the yuan, were raised when European leaders visited Beijing on 27 November 2007 for the EU-China summit. (E.H.)

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