Topic to Discuss Developments of European Trade
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Quick Overview 2013 European Trade:
- In 2023, with the value of exports as a percentage of GDP at 51.9% and the value of imports as a percentage of GDP at 48.3% (including both goods and services). The imports and exports include both intra-EU and extra EU
- Euro was the most used currency for EU exports with a share of 50.5% ahead of the US dollar with 32.6%. When it comes to imports of goods, the US dollar was the most used currency for imports into the EU with a share of 51.8% in 2022 ahead of the euro with 39.9%
Excluding Intra EU Trade, the ratio of international trade in goods and services relative to GDP rose from 20.1% in 2013 to 22.4% by 2023
- The EU held 16.6% of global exports of goods and services in 2022 (excluding intra-EU trade).
- In 2023, the EU exported €4.00 trillion and imported €3.61 trillion, resulting in a trade surplus of €389 billion.
In 2024, the United States was the largest partner for EU exports of goods (20.6%) and the second largest partner for EU imports of goods (13.7%).
