Trade with China flourishing

China’s fast growing economy is continuing to boost trade with its partners across the globe and Malta is no exception.

The island’s exports to China grew by a robust 51 per cent over the course of a year, according to new figures published in Brussels yesterday by Eurostat.

The figure grew from €39 million between January and October 2010 to €59 million during the same 10 months last year.

Meanwhile, imports from the Asian tiger increased by 34 per cent, reaching a value of €132 million from €98 million.

Giving a country-by-country breakdown of trade between the 27 EU member states and China, Eurostat said the first 10 months of last year continued to see growth in trade between the EU and China. Exports from the bloc grew by 21 per cent, from €92 billion to €112 billion, while imports rose by five per cent, from €232 billion to €244 billion.

Germany, with 48 per cent of EU exports, was by far the largest exporter to China, as well as the largest importer at 22 per cent.

All member states except Finland registered deficits in trade with China.