China food and drink export to EU continue rapid rise
balance of food and drink exports is continuing to swing in favour
of the People's Republic.
Food and drink exports from China to the EU rose from €1.17 billion in 1999 to reach €1.64 billion by 2003, an increase of 40.1 per cent. Likewise exports of food and drink products from the EU have risen, but from a much smaller base. Exports from the EU rose from €361.2 million in 1999 to €529.7 million in 2003, an increase of 44.2 per cent.
In the primary goods category, this means that food and drink exports are by far the most important category for China, which has helped to contribute to a trade deficit of €1.11 billion in that category, compared to a deficit of €813.1 million in 1999.
The figures represent both the rapid growth of the food industry in China, as well as the growing demand for cheaper foodstuffs in the EU markets. But likewise, the rise in exports from the EU to China reflects the country's growing love affair with European food and drink products that often to perceived to be chic and of a good quality.
Overall trade during the four year period has more than doubled, with imports from the EU growing from $19.6 billion to €41.2 billion and exports growing from €52.4 billion to reach €105.3 billion in 2003.
The trend towards increasing trade started off in the 1980s. Back in 1980, China was the 22nd largest destination for EU exports and the 25th largest destination for imports. The growth has continued steadily during this period and now the EU is only second in size to the US in terms as a trading partner.
Breaking the EU figures down by country, Germany was by far the largest exporter to China in the EU, with $18.3 billion representing 44 per cent of the total. Behind it comes France with €4.7 billion giving it an 11 per cent share and then Italy with €3.9 billion - a 9 per cent share.
Likewise Germany is also the biggest importer of Chinese goods - accounting for a 21 per cent slice of all EU exports with a value of €22.5 billion. Next comes the UK with a 16.3 per cent share representing €17.3 billion of the market and the Netherlands importing €14.7 billion worth of goods, giving it a 14 per share.
