China Retains Position as EU’s Largest Supplier of High‑Tech Goods in 2024

Eurostat data released on September 24 show the European Union’s trade in high‑technology products returned to surplus in 2024 after four consecutive years of deficits, with China continuing to occupy a leading role in the EU’s high‑tech import structure. The EU recorded high‑tech imports of €478 billion in 2024, a marginal decline of 0.2% from 2023, while exports rose to €501 billion, an increase of 8.1%.

The region’s high‑tech trade balance swung from a €15 billion deficit in 2023 to a €23 billion surplus in 2024, ending the multi‑year run of negative balances. China supplied roughly 30% of the EU’s high‑tech imports, equivalent to about €141 billion, while the United States accounted for approximately 23% or €111 billion, underscoring China’s growing weight within global high‑tech supply chains.

Other notable supplier markets included Switzerland at 6% (€31 billion), Vietnam at 5% (€24 billion) and the United Kingdom at 4% (€21 billion). By product group, electronic and telecommunications equipment was the largest import category for the EU, representing 36% of total high‑tech imports and dominated by Chinese sources. Computers and office equipment comprised 18% of imports, with pharmaceuticals following at 15%, primarily sourced from China and the United States.

Country‑specific patterns differed by product. Electronic and telecommunications products made up the bulk of Vietnam’s high‑tech exports to the EU, accounting for 60% (€14 billion), whereas Switzerland’s high‑tech shipments were largely pharmaceutical‑focused at 70% (€22 billion). For the United States and the United Kingdom, aerospace products represented the largest share of their high‑tech exports to the EU, at 36% (€39 billion) and 31% (€7 billion) respectively.

On the export side, the United States was the EU’s largest destination for high‑technology goods in 2024, receiving 31% (€156 billion) of EU high‑tech shipments, with China the second‑largest destination at 10% (€49 billion). Pharmaceuticals constituted the largest share of EU high‑tech exports at 33%, followed by electronic and telecommunications equipment at 19% and aerospace at 18%. The 2024 figures highlight both the EU’s rebounding external position in high‑tech trade and China’s reinforced role as a central supplier within global high‑technology value chains.