China’s importance as trading partner is growing

A steadily growing share of European microtechnology companies is aiming for China as a trading partner. Within the next three years, China is supposed to become the most important business region outside the European Union and the European Free Trade Association (EFTA) for a fifth (20.3%) of companies.

Currently, China is the major trading partner for one-eighth (12.5%) of companies, just behind the United States, which is the most important foreign trade region outside Europe for just above 13 percent. The microtechnology industry in Europe has strong international connections: 96% of companies are acting on an international level.



Source: IVAM Survey 2019