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Banca del Fucino report: Asymmetric China trade shock hits Europe
A report by the Banca del Fucino Research Office highlights a growing trade imbalance between the Eurozone and China, describing a potential ‘second China shock.’ Between March 2022 and the summer of 2026, Eurozone sales to China fell by 17.3%, representing a monthly export decrease of approximately 3.3 billion euros.
In contrast, European imports from China have grown by more than 50% compared to December 2020 levels, while European exports have declined by about 3%. This has resulted in a trade deficit for the Eurozone that reached new nominal historical highs in 2026.
The impact is not uniform across the continent. The research indicates that Germany is facing a significant and linear decline, with exports to China dropping by nearly one-third (-29%) between 2021 and 2025. The report notes that while France and Germany have raised alarms regarding manufacturing competitiveness, the trajectories for major economies like Italy and Germany differ significantly.
Entities
Banca del Fucino · China · European Commission · Germany · Italy
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] European imports from China are over 50% higher than in December 2020. ticinonotizie.it · livesicilia.it
- [● 3 SOURCES] Germany's exports to China fell by 29% between 2021 and 2025. ticinonotizie.it · livesicilia.it
- [● 3 SOURCES] Eurozone sales to China decreased by 17.3% between March 2022 and summer 2026. ticinonotizie.it · livesicilia.it
- [● 3 SOURCES] The Eurozone trade deficit with China reached new nominal historical highs in 2026. ticinonotizie.it · livesicilia.it