EU-China – a possible new beginning. A chance for economic zones and seaports
By Marek Grzybowski
China was the third largest export partner of goods from the EU (8.3%) and the largest import partner of goods from the EU (21.3%) In 2024. Among EU countries, the largest volume of goods reached the industrial and consumer markets of the European continent via the Netherlands. Germany was the largest exporter of goods to China in 2024 – according to Eurostat data. An increase in Chinese direct investment in Europe may contribute to a change in the trade balance of EU countries and the People’s Republic of China. It may also benefit ports and European economic zones. After Donald Trump’s decisions, trade relations, and even more broadly, economic relations, between European countries and the United States will no longer be the same as before.
It turns out that agreements and arrangements can suddenly be corrected, changed, or even terminated. If this is done for reasons such as the pandemic, it is sometimes understandable. If it is done for political reasons, it should also be understandable.
The globalization of the economy, despite the announcements of many political and economic leaders, has not retreated, but has even intensified. An example is the transaction of selling a network of container ports. MSC becomes a leading port operator after taking over Hutchison Ports, with the support of an American investor. The takeover of a significant part of Hutchison Ports’ container terminals by MSC increases the operator’s share in the global terminal market to 8.6%.
The Geneva-based giant currently has a 20.3% share in the global container fleet. MSC owns 602 container ships with a total capacity of 3.4 million TEU containers.
Source: digitaldinny, 2025
Less than a week ago, China and the European Union exchanged views on strengthening economic and trade cooperation in response to US tariffs, the Chinese Ministry of Commerce reported on April 10. During a video call on Tuesday, Chinese Trade Minister Wang Wentao spoke with European Commissioner for Trade and Economic Security Maros Sefcovic about resuming talks on trade concessions.
They also discussed conducting quick negotiations on tariff regulations for electric vehicles, the Chinese ministry said in a statement. The conversation took place shortly before President Donald Trump’s new tariffs on China and the introduction of retaliatory prices by the PRC government came into effect. We wrote about it here.
90-day suspension
It is true that US President Donald Trump suspended additional tariffs on goods from countries with which the United States has a trade deficit for 90 days on Wednesday. These tariffs came into effect one minute after midnight from Tuesday to Wednesday. He did not suspend only the tariffs on China, which he increased to 125 percent. We reported on this here. European Commission President Ursula von der Leyen announced on Thursday that the EU would suspend the imposition of retaliatory tariffs on the US for 90 days. This decision is related to the suspension of US tariffs for the same period by Donald Trump.
– We have taken note of President Trump’s statement. We want to give negotiations a chance – von der Leyen emphasized and noted: “therefore, the retaliatory tariffs will be suspended for 90 days”. However, the EC President emphasized that if the negotiations with the US are not satisfactory, the tariffs will come into force. As she added, work is underway on further tariffs on goods imported from the United States. We report on this here.
Źródło: Econvisuals, 2025
From 2000 to 2024, EU-PRC trade in goods (exports and imports) increased from USD 1.69 trillion to USD 5.43 trillion. For the EU, annual increases over this period reached a 4.1% CAGR. For China, annual increases in the supply of goods in value terms reached an 11.3% CAGR, from USD 474 billion to USD 6.16 trillion. By 2024, China’s total trade volume exceeded that of the EU by 14%. This is the result of exports being 28% higher. Import dynamics were almost identical. Trade as a share of GDP in 2024 was 33% for China and 28% for the EU.
Źródło: Eurostat, 2025
In 2020, the EU was the larger trading partner for most countries worldwide, with the exceptions of Oman, Mongolia, Myanmar, North Korea, Sudan and Yemen. However, by 2024, China had become the dominant trading partner for almost all of Asia and the Middle East, about half of Africa, most of the Americas (excluding the US, Argentina and a few small economies), as well as Russia and Oceania. Looking ahead, the EU remains the most important trading partner for the US and North Africa, while China continues to expand its influence in emerging markets, importing fuels, minerals and agricultural goods, while also exporting processed products.
EU in the red
EU exports to China fell between January 2023 (€19.2 billion) and December 2024 (€16.8 billion), Eurostat reports. It reached its lowest level of €16.3 billion in October 2023 and its highest level of €21 billion in February 2023. Imports from China fell from €46.4 billion in January 2023 to €44.1 billion in December 2024, which was particularly noticeable in container terminals. During this period, it reached its highest level of €47 billion in April 2023 and its lowest level of €35.6 billion in January 2024. In January 2023, the trade deficit was €27.2 billion, reaching its highest level of €29 billion in August 2024, falling to €27.3 billion in December 2024.
Between January 2023 and December 2024, EU imports from China decreased in value terms by 4.9%. Imports from other non-EU countries decreased by 14.8% during this period. EU exports to China fell by 12.5%, while exports to other non-EU countries increased by 3%.
Źródło: Eurostat, 2025
Imports and exports of goods from the EU and China compared to 2013 have increased unevenly over the last 10 years. Exports from the EU were lowest in 2013 (index 100) and highest in 2022 and 2023 (increase of 144 in both years). Imports to the EU were lowest in 2016 (98) and highest in 2022 (184). The export/import ratio for the EU was lowest in 2022 (85%) and highest in 2016 (116%). Exports from China to the EU were lowest in 2016 (95) and highest in 2022 (160). China’s import ratio relative to 2013 was lowest in 2016 (81) and highest in 2022 (139). The export/import ratio for China was the lowest in 2013 (113%) and the highest in 2015 (135%) – reports Eurostat.
China’s position among the EU’s largest trading partners in 2024 is undeniable. In 2024, China was the third largest exporter of goods to the EU. From the country of the Golden Dragon, 8.3% of goods in value terms reached the EU market. Thanks to the export of energy resources, the United States took first place with a share of 20.6%, and the United Kingdom second place (13.2%).
Switzerland (7.5%) and Turkey (4.3%) came next. China was the largest importer of goods from the EU, with a share of 21.3%. The next recipient of goods from European countries was the United States (13.7%), followed by the United Kingdom (6.8%), Switzerland (5.6%) and Türkiye (4.0%) in value terms.
Źródło: Eurostat, 2025
EU-China merchandise trade has been dominated by highly processed goods. In 2024, EU exports of processed goods reached an 88% share, significantly exceeding the share of other goods (11%). The most commonly exported processed goods were machinery and vehicles (51%), followed by other processed goods (20%) and chemical products (17%).
In 2024, EU imports of processed goods to China reached a 97% share. The most commonly imported processed goods were machinery and vehicles (55%), followed by other processed goods (34%) and chemical products (8%).
Over the past 10 years, there has been a noticeable evolution of EU imports and exports in every category. Overall, there have been increases, although in the case of food and beverages, EU exports have clearly declined in value terms over the past 5 years.
Źródło: Eurostat, 2025
The EU also recorded surpluses in the trade balance in other goods (€1.9 billion), raw materials (€6.4 billion) and food and beverages (€4.9 billion) In 2024,. While a trade deficit was recorded in energy commodities (€1.3 billion), chemical products (€8.4 billion), other manufactured goods (€131.4 billion) and machinery and vehicles (€176.7 billion).
Źródło: Eurostat, 2025
The highest value is for goods imported from China by the Netherlands (EUR 109 billion). The value of trade in goods generated by Germany reached EUR 96 billion, and the Italian economy EUR 50 million.
The first largest exporter to China among EU countries was Germany, with goods sent to the People’s Republic of China worth EUR 90 billion. France came next (EUR 24 billion) and the Netherlands, through whose ports goods worth EUR 24 billion were exported.
Źródło: Voronoiapp.com, za Eurostat, 2025
As a result, only Ireland and Luxembourg achieved a positive trade balance resulting from the flow of goods between EU countries and China. This is the result of accounting for the value of the flow of goods according to the place of residence of importers and exporters.
The remaining 25 EU countries had trade deficits with China. The largest deficit, amounting to EUR 85 billion, was recorded by the Netherlands. The Dutch result is burdened by the so-called ‘Rotterdam effect’, i.e. it is the result of using Dutch terminals for transit traffic.
Goods imported by EU countries, in many cases, arrive via Dutch ports and are registered as imports carried out by the Dutch customs system.