In 2024, the European Union exported goods worth approximately 213.3 billion euros to China, around 10 billion euros less than in the previous year. That year, the EU recorded a trade deficit of more than 304 billion euros with China.

China recorded a trade surplus of 114.77 USD Billion in June of 2025. This dataset provides - China Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, China's merchandise trade surplus amounted to around 992.2 billion U.S. dollars, significantly higher than in the previous year. The merchandise trade balance is the value of exported goods minus the value of imported goods. A positive value indicates a trade surplus, while a negative value indicates a trade deficit. Trade balance and partnersIn 2024, Chinese imports of goods amounted to approximately 2.59 trillion U.S. dollars, whereas total exports added up to about 3.58 trillion U.S. dollars. In contrast, China’s invisible trade balance, an indicator measuring services and government transfers between countries, closed with a deficit and ranged at about -92 billion U.S. dollars at the end of 2022. Being an economy heavily reliant on export, China ranked first among countries with the highest trade surplus, followed by Germany and Russia. The United States, with imports exceeding exports by approximately 1.15 trillion U.S. dollars that year, ranked first among leading import countries worldwide. In 2023, the value of the U.S. imports from China exceeded the exports to China by around 279.4 billion U.S. dollars. Another important trade partner for China is the European Union. In 2023, the EU imported around 514 billion euro-worth of goods from China, leading to a trade deficit of around 291 billion euros. Product categories with the highest trade deficit were mostly finished goods such as machinery and transport equipment, clothing, and other manufactures, whereas product categories with a more balanced trade sheet consisted of raw materials and agricultural products to a large extent.

The United States recorded a trade deficit of 71.52 USD Billion in May of 2025. This dataset provides the latest reported value for - United States Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

European Union - Extra-EU trade: Trade balance in partnership with China except Hong Kong was EUR-164733.70 Million in December of 2019, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for European Union - Extra-EU trade: Trade balance in partnership with China except Hong Kong - last updated from the EUROSTAT on June of 2025. Historically, European Union - Extra-EU trade: Trade balance in partnership with China except Hong Kong reached a record high of EUR-104198.00 Million in December of 2013 and a record low of EUR-164733.70 Million in December of 2019.

European Union - Extra-EU trade of raw materials (SITC 2+4): Trade balance in partnership with China except Hong Kong was EUR6636.30 Million in December of 2019, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for European Union - Extra-EU trade of raw materials (SITC 2+4): Trade balance in partnership with China except Hong Kong - last updated from the EUROSTAT on June of 2025. Historically, European Union - Extra-EU trade of raw materials (SITC 2+4): Trade balance in partnership with China except Hong Kong reached a record high of EUR7184.70 Million in December of 2017 and a record low of EUR1573.50 Million in December of 2008.

As of 2024, the United States had a trade deficit of about *** billion U.S. dollars. The U.S. trade deficit has increased since 2009, peaking in 2022. Most recently, 2023 marked the year when the U.S. trade deficit decreased from the previous year. What is trade deficit? A trade deficit is, quite simply, the total value of a country’s imports of goods and services minus the total value of its exports of goods and services. When a country exports more than it imports, it has a trade surplus, and when it imports more than it exports, it has a trade deficit. A trade deficit can mean one of two things: Either the country is failing to produce enough goods for its citizens, or its citizens are wealthy enough to purchase more goods than the country produces (as is the case with the United States). Trading partners The United States’ top export partners are its closest neighbors, Canada and Mexico, due in part to the North American Free Trade Agreement (NAFTA), which, pending ratification, will be replaced by the United States-Mexico-Canada Agreement (USMCA). Regarding imports to the U.S., China takes the top spot, followed by Mexico and Canada.

European Union - Extra-EU trade of other manufactured goods (SITC 6+8): Trade balance in partnership with China except Hong Kong was EUR-99963.30 Million in December of 2019, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for European Union - Extra-EU trade of other manufactured goods (SITC 6+8): Trade balance in partnership with China except Hong Kong - last updated from the EUROSTAT on July of 2025. Historically, European Union - Extra-EU trade of other manufactured goods (SITC 6+8): Trade balance in partnership with China except Hong Kong reached a record high of EUR-67295.50 Million in December of 2009 and a record low of EUR-99963.30 Million in December of 2019.

The U.S. goods trade deficit with China increased by nearly ** billion U.S. dollars in 2024, as China still had the biggest impact on U.S. bilateral trade. This is according to seasonally adjusted trade date from within the United States. Following the results of the U.S. elections in 2024, discussions surfaced on the potential of tariffs for countries that have a large trade surplus with the United States. The president-elect stated that trade tariffs of ** percent and ** percent might be implemented for goods from China or Mexico, respectively. The effects of such measures on the forecast GDP growth across the world were not yet clear. In Europe, however, Germany might be the most affected economy when the U.S. does implement tariffs.

European Union - Extra-EU trade of food, drinks and tobacco (SITC 0+1): Trade balance in partnership with China except Hong Kong was EUR8046.50 Million in December of 2019, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for European Union - Extra-EU trade of food, drinks and tobacco (SITC 0+1): Trade balance in partnership with China except Hong Kong - last updated from the EUROSTAT on June of 2025. Historically, European Union - Extra-EU trade of food, drinks and tobacco (SITC 0+1): Trade balance in partnership with China except Hong Kong reached a record high of EUR8046.50 Million in December of 2019 and a record low of EUR-1893.40 Million in December of 2008.

European Union - Extra-EU trade of machinery and transport equipment (SITC 7): Trade balance in partnership with China except Hong Kong was EUR-89613.50 Million in December of 2019, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for European Union - Extra-EU trade of machinery and transport equipment (SITC 7): Trade balance in partnership with China except Hong Kong - last updated from the EUROSTAT on July of 2025. Historically, European Union - Extra-EU trade of machinery and transport equipment (SITC 7): Trade balance in partnership with China except Hong Kong reached a record high of EUR-42096.30 Million in December of 2014 and a record low of EUR-89613.50 Million in December of 2019.

In the first quarter of 2025, the United Kingdom had a trade deficit of 10.6 billion British pounds, due to a 59 billion pound deficit in goods trade offset by a 48 billion pound trade surplus in services.

European Union - Extra-EU trade of chemicals and related products (SITC 5): Trade balance in partnership with China except Hong Kong was EUR8055.00 Million in December of 2019, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for European Union - Extra-EU trade of chemicals and related products (SITC 5): Trade balance in partnership with China except Hong Kong - last updated from the EUROSTAT on July of 2025. Historically, European Union - Extra-EU trade of chemicals and related products (SITC 5): Trade balance in partnership with China except Hong Kong reached a record high of EUR8055.00 Million in December of 2019 and a record low of EUR-648.40 Million in December of 2008.

In 2024, the European Union countries imported approximately **** percent of the Chinese export volume. In that year, ASEAN was the largest Chinese merchandise importer. Distribution of Chinese exports In 2024, China exported goods with a total value of around **** trillion yuan and imported goods with a value of **** trillion yuan. That year, China ranked second among the countries with the largest gross domestic product, following the United States.China’s economic prosperity has been closely related to its status as the world’s factory. For about a decade between 2005 and 2015, exports contributed more than ** percent to China’s gross domestic product. However, the share of exports to GDP contribution is currently on the decline. Nonetheless, China maintains a trade surplus of about *** billion U.S. dollars and remains first among countries with the highest trade surplus worldwide as of 2023. While China displays high growth potential for service exports such as tourism, transportation, banking and financial services, as well as insurance and education services, the main focus of China’s export industry remains merchandise. In 2022, Chinese merchandise exports made up **** percent of all global exports, whereas service based exports contributed only *** percent.In terms of most exported merchandise categories, food and live animals used for food were the main primary goods. Among the manufactured goods, automatic data processing machines, integrated circuits, clothing, textiles, and smartphones were the categories with the highest export value in China in 2024.

In May 2025, the total value of imports to China amounted to around ***** billion U.S. dollars. This indicated a slight decrease in import value compared to the same period of the previous year. Import trade partners As of 2023, China was the world’s second-largest importer of merchandise goods, representing **** percent of worldwide imports. Over the last decade, the value of imports to China has increased significantly.In 2024, ASEAN and the European Union were China’s most important import trade partners, with an import value of about **** trillion yuan and **** trillion yuan respectively. About ** percent of China’s imports from the European Union were manufactured goods; the main import commodities to China were machinery and transport equipment. Trade balance With a merchandise trade surplus of more than *** billion U.S. dollars in 2023, China is still the nation with the highest trade surplus worldwide. Despite the pandemic, China exported nearly **** trillion U.S. dollar-worth of goods in 2024, setting another record in history. Nevertheless, a rising number of economists have estimated a downturn in China's economic development recently.

China's total Exports in 2024 were valued at US$3.58 Trillion, according to the United Nations COMTRADE database on international trade. China's main export partners were: the United States, Hong Kong and Vietnam. The top three export commodities were: Electrical, electronic equipment; Machinery, nuclear reactors, boilers and Vehicles other than railway, tramway. Total Imports were valued at US$2.59 Trillion. In 2024, China had a trade surplus of US$991.41 Billion.

The United States' total Imports in 2024 were valued at US$3.36 Trillion, according to the United Nations COMTRADE database on international trade. The United States' main import partners were: Mexico, China and Canada. The top three import commodities were: Machinery, nuclear reactors, boilers; Electrical, electronic equipment and Vehicles other than railway, tramway. Total Exports were valued at US$2.06 Trillion. In 2024, The United States had a trade deficit of US$1.29 Trillion.

Currently, China manufactures about ** percent of intermediate products traded in the global supply chain and Chinese intermediate products represent a critical element of the global value chain of the metal and metal products sector. For this reason, the disruption caused by COVID-19 in China alone is expected to reverberate on the economy of many other countries worldwide. In the European Union, the metal industry is expected to lose over *********** U.S. dollars from a *** percent reduction in China exports of intermediate inputs.

China's output of metal products As a fast-growing economy, China is one of the major producers of various metals necessary for industrial production. The country produces metals not only to meet the internal demand, but also to export overseas. As of 2017, China’s raw steel production was over *** million metric tons. Its export volume of semi-finished and finished steel products amounted to over ** million metric tons in 2018. In the same year, rolled aluminum exports from China were worth over ** billion U.S. dollars, up from *** billion U.S. dollars in 2009. China’s share of fabricated metal product exports between 2013 and 2017 accounted for ** percent of the global market.

International trade of metals In 2018, China was the largest steel exporter, with a trade surplus of **** million metric tons. On the other hand, Europe and North America were major importers of steel. That year, the trade deficit of North American steel imports and exports amounted to **** million metric tons. During that same year, Japan was the second-largest steel exporter, with approximately ** million metric tons of steel exported to countries across the globe. Despite the large trade flows of metal products across countries, some countries impose various trade restrictions to favor local producers of metals. Currently, the trade war between the U.S. and China is one of the major events affecting global trade. As of February 2020, the estimated levy from tariffs imposed on U.S. steel and aluminum imports to China amounted to about *********** U.S. dollars.

Russia's leading five export partners in 2023 were China, India, Turkey, Kazakhstan, and Brazil. The value of total exports from Russia to its major trade partner — China — exceeded *** billion U.S. dollars. Trade between Russia and China China was not only the leading export destination of Russian commodities, but also the major import partner of the country. Prior to 2018, the value of Russian imports from China prevailed the Russian exports’ worth to the country. It was in 2018 when for the first time, the trade balance of Russia with China turned positive and amounted to about *** billion U.S. dollars. Russia's primary export goods, mineral and energy products, were also the most imported commodities by China from the country. Russian trade with Europe Trade flows between Russia and the EU have been in decline over the past years. In 2023, the EU export value to Russia exceeded ** billion U.S. dollars — roughly ** billion U.S. dollars below the EU imports’ worth from Russia in that year. Germany was the major importer of Russian goods in the region.

This graph shows the growth in the U.S. import volume of trade goods from Russia from 1992 to 2023. In 2023, U.S. imports from Russia amounted to approximately 4.57 billion U.S. dollars. RussiaRussia's foreign trade balance of goods generated a surplus of about 187 billion U.S. dollars, with more resulting from exports than imports in 2014. Russia exported trade goods valued about 418.8 billion U.S. dollars in 2019. In a global ranking of national exports, Russia was sixteenth. Leading exporters like China, the United States, and Germany are exporting goods worth between 1.5 and 2.5 trillion U.S. dollars. The placement of Russia’s export ranking is linear with its placement on the ranking of the biggest economies in the world. Russia had the eleventh largest GDP worldwide with about 1.6 trillion U.S. dollars in 2019. Russia's most important export countries are mostly its direct neighbors, like China, Ukraine, Belarus, Poland, and Kazakhstan. About 35 percent of all exports go to neighboring countries. China is the most important country within the aforementioned nations, which takes about 8 percent of Russia's exported goods. The United States are not among the top ten. The nation sits in twelfth place of Russia's export destinations, with about three percent. The products exported from Russia are unsurprisingly mainly mineral products and metals, with crude and refined petroleum making up for 54 percent of all exports. The main export product apart from resources is wheat. Exported wheat from Russia was valued at about 6.2 billion U.S. dollars in 2012. Russia is one of the principal wheat exporters. Although the development of Russia's exports has been somewhat positive in recent years, the political crisis with the Ukraine, resulting in economic sanctions applied by important trade countries like Germany, the EU, the United States and many others, might have dampened foreign trade altogether. The result was a negative growth in exports of about five percent in 2014.