2024-10-05 18:58:17
In 2023, the EU imported <a href="https://time.news/china-must-stop-supporting-russias-war-in-ukraine-2024-04-26-145847/" title="China must stop supporting Russia's war in Ukraine
– 2024-04-26 14:58:47″>high-tech products worth €478 billion, a slight drop of 1 percent compared to 2022, according to the latest Eurostat figures published today on the statistics agency’s website.
In the same period, exports reached 461 billion euros, which is a growth of 3 percent on an annual basis.
Over half of EU high-tech imports in 2023 come from China (€155 billion or 32 percent) and the US (€108 billion or 23 percent). Other leading partners are Switzerland (€31 billion or 7 per cent), Taiwan (€28 billion or 6 per cent) and the UK and Vietnam (€20 and €19 billion or 4 per cent each respectively).
Electronics and telecommunications account for the largest share of high-tech imports from non-EU countries (39 percent), with China the leading partner. Computers and office machinery, as well as pharmaceuticals, account for 15 percent of high-tech imports, most of which come from China and the United States, respectively.
Electronics and telecommunications accounted for the largest share of Vietnam’s EU imports at €14 billion or 73 percent of the country’s high-tech imports, with Taiwan and China at €16 and €89 billion or 58 percent each.
For Switzerland, pharmaceuticals represent the largest share of imports – 22 billion euros or 70 percent of high-tech imports.
For the USA, the share of high-tech imports is 47 billion euros or 35 percent, while for Great Britain the data shows 6 billion euros or 30 percent, writes BTA.
Pharmaceuticals make up 30 percent of the EU’s high-tech exports.
In 2023, the US was the largest trading partner for high-tech exports to countries outside the EU, at €128 billion or 28 percent. China follows with 49 billion euros or 11 percent, ahead of Great Britain with 44 billion euros or 10 percent, Switzerland – 28 billion euros or 6 percent, Japan and Turkey – respectively 15 and 14 billion euros or 3 percent each.
Pharmaceuticals make up the largest share (30 percent) of total high-tech exports to non-EU countries, with the US being the leading partner. Electronics and telecommunications (20 percent) and aerospace (18 percent) followed, with China and the US leading partners in these sectors, respectively.
Pharmaceuticals accounted for the largest share of high-tech exports to Switzerland and the US – EUR 14 billion and EUR 61 billion, or 48 percent each, and Japan – EUR 6 billion, or 39 percent.
Electronics and telecommunications accounted for the largest share for China – 15 billion euros or 31 percent of high-tech exports and Great Britain – 10 billion euros or 22 percent. For Turkey, exports amount to 5 billion euros or 35 percent.