Trade exchanges among Asia-Europe Meeting countries increase

From 2003 to 2013, the share of EU international trade in goods with its 20 partner countries in Asia-Europe Meeting (ASEM) rose significantly, with the share of the ASEM partners in EU exports increasing from 25% to 30%, and from 40% to 44% for imports. The 28-member EU registered a trade deficit with the ASEM partners during the whole period, growing from 162 billion euro in 2003 to 308 billion euro in 2008, before falling to 219 billion euro in 2013.
EU trade in goods with the ASEM partners is largely dominated by manufactured goods, which accounted for 86% EU of exports and for 68% of imports in 2013.
On the occasion of the 10th ASEM Summit, which will take place on Thursday and Friday in Milan, Eurostat, the EU's statistical, published the figures Wednesday. Italy holds the current EU Presidency.
Five ASEM partners feature among the top 10 trading partners of the EU in 2013. They are China, Russia, Japan, South Korea and India. Among the 20 ASEM partners, China (148.3 bn euro) and Russia (119.8 bn) were the leading destination for EU exports in 2013, accounting for 51% of EU exports to all ASEM partners. Japan (54.1 bn euro), South Korea (40 bn) and India (35.9 bn) were some way behind.
The leading source of EU imports from the ASEM partners were also China (280.1 bn euro) and Russia (205.9 bn euro) which together represented 66% of EU imports from all ASEM partners.
Among the 28 EU Member States, Germany (177.4 bn euro) was by far the largest exporter to the ASEM partners in 2013, followed by France (آ€55.4 bn) the United Kingdom (52.2 bn) and Italy (45.2 bn %). Germany (148.9 bn euro) was also the main importer from ASEM partners, followed by the Netherlands (122.3 bn), the United Kingdom (88.6 bn), Italy (60.9 bn) and France (57.6 bn ) The Asia-Europe Meeting (ASEM) was created in 1996 as a forum for dialogue and cooperation between Europe and Asia.
It consists of the 28 Member States of the European Union, plus two non-EU European countries Norway and Switzerland and includes the 10 members of the ASEAN (the Association of Southeast Asian Nations): Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam, as well as Australia, Bangladesh, China, India, Japan, Mongolia, New Zealand, Pakistan, Russia and South Korea.