The EU is trying to diversify Europe’s industry, to decrease dependency on key imports from outside the EU. Reliance on imports was painfully exposed during the first months of the Covid-19 pandemic.
The European Commission updated its industrial strategy, with the aim of correcting the bloc’s dependencies in key sectors.
Of 5,200 products imported into the EU, the bloc is “highly dependent” on 137 in areas likelike pharmaceutical ingredients and advanced technologies .
Approximately 50% of all imports of these products originate in China, followed by Vietnam, Brazil, Singapore and South Korea.