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EU-China Trade Deficit Narrows by 18% in Q1 2024

By Athena Xu

5/21, 13:34 EDT
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  • The EU's quarterly trade deficit with China in machinery and transport equipment has significantly deepened over the past two decades, reaching its lowest point in the first quarter of 2024 with a deficit exceeding €60 billion.
  • The recent trend shows a notable reduction in the trade deficit, with a 10% decrease from the previous quarter and an 18% decrease from the same period a year ago, indicating a shift in trade dynamics.