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Re-estimation of China-EU trade balance
Jiang, Xuemei1; Kong, Yishu2; Li, Xinru3,4; Yang, Cuihong3,4; Chen, Xikang3
AbstractSignificant discrepancy exists between official Chinese and EU trade statistics on the magnitudes of the China-EU trade in goods as well as in services. While the discrepancy of China-U.S. trade surplus has been thoroughly studied by scholars and policymakers, the discrepancy of China-EU trade surplus is barely discussed in literatures. This may lead to seriously bias in understanding China-EU trade relationship, and even cause unnecessary trade friction. In this paper, we discuss the reasons behind the discrepancy of China-EU trade and quantify the extent to which the discrepancy is contributed by transportation costs, re-exports and their markups. We also employ the input-output tables of both EU and China, and measure the China-EU trade balance of goods and services in both domestic value-added (DVA) terms as well as in gross terms. The discrepancy of China-EU trade balance in goods (and services) still exists after adjustments, but is significantly reduced. With the adjustments on price and re-exports, in 2016, the discrepancy of China-EU trade in goods and services of Chinese release over EU release would shrink from an initial estimation of US$90.6 billion to an estimation of US$20.4 billion in gross terms, and further to US$15.8 billion in value-added terms.
KeywordChina-EU trade Trade balance Domestic value-added Discrepancy
Funding ProjectMinistry of Commerce of China ; National Natural Science Foundation of China[71873091] ; National Natural Science Foundation of China[61873261] ; National Natural Science Foundation of China[71673269]
WOS Research AreaBusiness & Economics
WOS SubjectEconomics
WOS IDWOS:000464630100023
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Document Type期刊论文
Corresponding AuthorJiang, Xuemei
Affiliation1.Capital Univ Econ & Business, Sch Econ, Beijing, Peoples R China
2.Natl Dev & Reform Commiss, Inst Int Econ Res, Beijing, Peoples R China
3.Chinese Acad Sci, Acad Math & Syst Sci, Beijing, Peoples R China
4.Univ Chinese Acad Sci, Beijing, Peoples R China
Recommended Citation
GB/T 7714
Jiang, Xuemei,Kong, Yishu,Li, Xinru,et al. Re-estimation of China-EU trade balance[J]. CHINA ECONOMIC REVIEW,2019,54:350-366.
APA Jiang, Xuemei,Kong, Yishu,Li, Xinru,Yang, Cuihong,&Chen, Xikang.(2019).Re-estimation of China-EU trade balance.CHINA ECONOMIC REVIEW,54,350-366.
MLA Jiang, Xuemei,et al."Re-estimation of China-EU trade balance".CHINA ECONOMIC REVIEW 54(2019):350-366.
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