The WeChat official account "CCCEU" of the EU-China Chamber of Commerce reported that on April 1, the EU released its 2024 automotive trade data, with China becoming the largest source country for EU car imports at an import value of 12.7 billion euros. The EU side stated that from 2019 to 2024, the five-year period, imports of cars from China surged by 1591.3%; despite this, in 2024, the EU maintained a trade surplus with China, with exports to China reaching 14.5 billion euros.
The EU's automotive trade surplus in 2024 reached 89.3 billion euros.
In 2024, the EU exported 5.4 million vehicles and imported 4 million vehicles. Compared with 2019, the export volume decreased by 13.2%, while the import volume reduced by 3.0%.
In terms of trade value, the EU's total car exports in 2024 amounted to 165.2 billion euros, and imports totaled 75.9 billion euros, resulting in a trade surplus of 89.3 billion euros. Compared with 2019, the export value increased by 17.7% (+24.8 billion euros), and the import value rose by 20.0% (+12.7 billion euros).
The decrease in vehicle import and export volumes alongside the increase in trade values reflects the rise in car prices between 2019 and 2024.
EU auto trade numbers and amounts in 2019 and 2024
Main trading partners: Exports are led by the US and UK, imports come from China and Japan, etc.
In 2024, the United States and the UK were the largest destinations for EU car exports, at 38.9 billion euros and 34.3 billion euros respectively. China ranked third at 14.5 billion euros, followed by Turkey (12 billion euros) and Switzerland (8.5 billion euros).
Among the export markets from 2019 to 2024, the EU saw the largest increase in car exports to Turkey, growing by 364.1%; while exports to China dropped most significantly, decreasing by 22.3%.
Top five trading partners of the EU in 2024
In terms of car imports, in 2024, China and Japan were the top two sources for the EU, at 12.7 billion euros and 12.3 billion euros respectively; the UK ranked third at 11 billion euros, followed by Turkey (9.1 billion euros) and the US (8.4 billion euros).
From 2019 to 2024, the EU's imports of cars from China showed the most significant growth, increasing by 1591.3%; while imports from the UK declined by 17.1%, making it the largest declining source country.
Original article: https://www.toutiao.com/article/7488504850813059599/
Disclaimer: This article solely represents the views of the author. Please express your opinions by clicking the 'thumbs up' or 'thumbs down' buttons below.