Brussels – In the first quarter of 2026, the European Union imported goods worth €145.3 billion from China alone, while its exports to the United States, its largest export market, fell by 30.4 per cent compared with the previous year. These two telling figures, released by Eurostat, the EU’s statistical office, highlight the complexity of the Union’s trade, characterised by heavy manufacturing dependence on Asia and a loss of commercial momentum in the West. Despite a positive trade surplus of €12.7 billion, resulting from €640.5 billion in exports and €627.8 billion in imports, the overall picture shows a clear structural slowdown, with year-on-year contractions of 3.3 per cent for imports and 8.8 per cent for exports.
The map of trade flows highlights the central role played by Beijing and Washington, albeit in reverse. While China has consolidated its position as the leading supplier, accounting for 23.1 per cent of the total (145.3 billion), followed by the United States at 13.7 per cent (85.9 billion), and the United Kingdom at 6.3 per cent (39.5 billion), European domestic demand from these long-standing partners is falling, with declines in purchases from Turkey (-7.5 per cent), the US (-5.7 per cent), and the UK (-3.4 per cent). Conversely, export trends see the United States in the lead with 18.6 per cent of the total (119.4 billion), followed by the United Kingdom (13.8 per cent), Switzerland (8.9 per cent), and China (7.4 per cent). However, the most critical figure is precisely the generalised decline in overseas sales, which, in addition to the aforementioned slump in the US, also affects the markets of Turkey (-8.2 per cent) and China (-7.9 per cent).
The intersection of these trade patterns highlights the structural vulnerabilities of the single market. The massive trade deficit with China, from which the EU imports roughly three times as much as it exports, highlights a strategic dependence on finished goods, technology, and green transition components such as batteries and rare earths, exposing Europe to supply shocks or geopolitical instability. At the same time, the sharp decline in exports to the United States reflects both the impact of domestic protectionist measures such as the Inflation Reduction Act and a weakening of transatlantic demand for European automotive and machinery products, prompting the EU to question its own price competitiveness.
In the long term, for the International Monetary Fund, the 8.8 per cent year-on-year decline in global exports indicates that European industry is struggling to compete due to high energy costs and strict environmental standards, factors that risk fuelling deindustrialisation. When production moves permanently abroad, Europe not only loses jobs and wealth, but also sees its technological know-how eroded. For this reason, the figures for the first quarter of 2026 are driving the EU towards de-risking and reshoring policies, seen as necessary tools for diversifying suppliers, repatriating strategic supply chains and safeguarding its global economic autonomy.
