2015 EU trade deficit with China hit record 180bn euros

The Financial Times reports a surge in imports led the EU’s trade in goods deficit with China to a record 180bn euros last year, according to Eurostat data. The union’s surplus in services also hit a new record, but remained a fraction of total trade. Finland and Germany were the only two countries recording a surplus in trade in goods in 2015, while the Netherlands and the UK had the biggest deficits. The UK spent 30.4bn euros more on Chinese goods than it received through exports, though its 2.4bn euro surplus in trade in services was the third-highest in the EU (behind Germany and Ireland). Total service exports across the continent increased 24% to 36bn euros, leading to a surplus of 10.3bn euros.