Korean media: China becomes the largest supplier of high-tech products to the EU!
On November 6, South Korean media "THE GURU" published an article stating that last year, China's exports of high-tech products to Europe surged, becoming the largest supplier to the EU. China accounts for about one-third of the total imports of high-tech products in the EU, and it is expected that Europe's reliance on China in key industrial supply chains will further increase.
According to data from the European Union Statistical Office, in 2024, 141 billion euros (about 30%) of the EU's imports of high-tech products came from China. The United States ranked second with a share of 23% (111 billion euros), followed by Switzerland (6%), Vietnam (5%), and the UK (4%).
By product classification, electronic and communication products accounted for 36% of the total imports, with China being the largest supplier. Computers and office equipment accounted for 18%, and pharmaceuticals accounted for 15%, with China and the US being the main suppliers. Electronic and communication products imported from Vietnam and China accounted for 52% to 60% of the total imports, while Swiss pharmaceuticals (70%) and aerospace products from the US and UK (36% and 31%, respectively) were the largest imports.
In the EU's high-tech product exports in 2024, pharmaceuticals accounted for the largest share at 33%, with the US being the largest export destination (31%). Electronics and communication products (19%) and aerospace products (18%) were also major export items, with China and the US as their main destinations.
These data show that China has surpassed traditional low-cost, large-volume products and become the main supplier of high-tech products in technology-intensive fields such as electronics, telecommunications, computers, and office equipment in the EU. Chinese products account for about one-third of the EU's imports, and this is expected to increase the EU's dependence on certain products, directly affecting its industrial competitiveness and strategic decisions.
At the same time, the total value of high-tech product imports by the EU in 2024 reached 478 billion euros, a decrease of 0.2% compared to the previous year. Export revenue increased by 8.1% to 501 billion euros, turning the EU's trade in high-tech products with non-member states from a deficit for four consecutive years into a surplus of 23 billion euros.
Original: www.toutiao.com/article/1848006385206272/
Statement: This article represents the views of the author.