THE European Union's trade deficit in goods with China has shrunk to its lowest quarterly level in almost three years, reports London's Financial Times.
Despite fears about the bloc being flooded with cheap Chinese products, in the three months to March, the EU's trade deficit with China fell to EUR62.5 billion (US$67.82 billion), down 10 per cent year on year.
That is its lowest level since the second quarter of 2021, after it peaked at EUR107.3 billion in the third quarter of 2022.
There are also signs of growing transatlantic demand for European products, after the EU's trade surplus with the US rose to a record high in the first quarter, according to data published by Eurostat.
SeaNews Turkey
Despite fears about the bloc being flooded with cheap Chinese products, in the three months to March, the EU's trade deficit with China fell to EUR62.5 billion (US$67.82 billion), down 10 per cent year on year.
That is its lowest level since the second quarter of 2021, after it peaked at EUR107.3 billion in the third quarter of 2022.
There are also signs of growing transatlantic demand for European products, after the EU's trade surplus with the US rose to a record high in the first quarter, according to data published by Eurostat.
SeaNews Turkey
