- File Photo

BEIJING: China said Tuesday that the United States has overtaken the European Union as its biggest export market, as the continent's debt crisis has sent demand slumping.

“The biggest is the US and the EU is second,” Commerce Ministry spokesman Shen Danyang told reporters at a regular briefing, without saying when the reversal occurred. “The EU used to be the biggest,” he added.

Chinese customs figures for the first 10 months of this year showed that China's exports to the United States totalled $289.3 billion, while shipments to the EU came to $276.8 billion.

Weak demand from both Europe and the US has been a big factor as China's economic growth has slowed over the past seven quarters to the end of September.

Economic growth in the US remains weak but is expanding, while the eurozone's debilitating debt crisis has dragged it back into recession.

Shen noted that China will probably miss its full year target of 10 per cent foreign trade growth this year due to sluggish overseas demand, particularly in Europe and Japan.

“The international economic situation this year has been severe and complicated. There have been many uncertainties, with slack foreign demand being the most severe one,” he said.

“It will be indeed very difficult to achieve this year's 10-per cent target for trade growth,” he said, yet added it was premature to conclude what the full year increase would turn out to be.

Chinese customs data showed foreign trade rose by just 6.3 per cent in the first 10 months of the year from the same period in 2011.

Shen also said the Association of Southeast Asian Nations had moved past Japan as China's third-biggest export market.

Japan, which is in the midst of a diplomatic row with China that has hit trade between the two nations, slipped to fourth place.

Shen offered no explanation for China's changing trade patterns with ASEAN and Japan.

China shipped $125.3 billion in goods to Japan in the first 10 months of the year, compared with $163.9 billion dollars to the 10 ASEAN countries, according to customs figures.

Follow Dawn Business on X, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Budget presser
Updated 14 Jun, 2026

Budget presser

If the FBR falters, the government will find itself in hot water sooner rather than later.
Muharram precautions
14 Jun, 2026

Muharram precautions

WITH Muharram due to start next week, the authorities have already begun annual exercises to ensure that the ...
Blood bequests
14 Jun, 2026

Blood bequests

WORLD Blood Donor Day offers a moment of “gratitude, advocacy and renewed commitment” for thalassaemia patients...
Sustainable path?
Updated 13 Jun, 2026

Sustainable path?

The FY27 budget is the first clear signal that the government is ready to transition from stabilisation to growth.
Prioritising education
13 Jun, 2026

Prioritising education

THOUGH the improvement in the country’s literacy rate may be slight, as highlighted by the Economic Survey, it ...
Poverty’s rise
13 Jun, 2026

Poverty’s rise

AS attention turns to the government’s plans for the coming fiscal year, one set of figures deserves particular...