China-EU_Relations_Reassessing_the_China-EU_Comprehensive_Strategic_Partnership

EU’s position as the largest export market for China for many years was replaced
by the USA in 2012.
In terms of growth rate, China-EU trade experienced three ups and three downs
during the period 2003–2012. As indicated in Fig.3.3, the years 2003 and 2004
witnessed the fastest growth and this was also the honeymoon period in the history
of China-EU relations, during which bilateral trade annually soared by more than
40 %. The launching of the China-EU Comprehensive Strategic Partnership
injected new vitality into China-EU trade. In these two years, China’s exports to the
EU grew annually by nearly 50 %, and the rate of growth of its imports even hit

Year

China’s foreign trade

and China-EU

trade (×

10

8 USD)

China’s

exports

China’s

imports

China’s

foreign

trade

China’s

exports

to the EU

China’s

imports

from the

EU

China’s

trade to

the EU

Fig. 3.2 China’s foreign trade and China-EU trade in the years 2003–2012.SourceMOFCOM

Year

Exports Imports

volume

China-EU trade growth rate (%)

Trading Trade surplus

Fig. 3.3 China-EU trade growth rates in the period 2003–2012.SourceMOFCOM. Results were
calculated by the Author

3 China-EU Economic and Trade Relations 71