European Union is a political and economic union of 28 countries located primarily in Europe. The EU has developed an internal single market through legislation agreed upon by member states. European Union ensures the free movement of people, goods, services, and markets within the internal market and maintains common trade policies. In 2018 the European Union had a 22 trillion dollar economy. The European Union is the largest economy in the world accounting for 20% of the gross domestic product (GDP) of the world.
European Union trade data contains -
European trade data is based on shipping bills, invoices, and bills collected from custom departments, port authorities, shipping & logistics companies, trade associations, and government bodies. This data is invaluable to both importers and exporters.
According to the European Union trade data, the EU accounted for 16.5% of the world’s imports and exports. The two-way trade between the US and the 28 EU countries reached approximately 5.6 trillion dollars. The top trade partners of the EU are -
European Union Import data indicates that the total imports were valued at 192.5 billion dollars. Importing products into EU is regulated to protect human and animal health, the environment, and consumer rights. The data also indicates that imports grew by 2.1% in 2019. The top imported products are -
European Union import data shows that China (20.2%) was the region’s largest import partner, followed by the US (13.8%) and Russia (7.8%). Within the European Union, the top importing countries are – Germany, France and the United Kingdom accounting for approximately 41% of EU imports.
European Union export data indicates that total exports were valued at 212 billion dollars. The EU is the world’s most powerful trade partner and is responsible for over a third of globally exported goods. The top exported products are -
The EU top 10 exports accounted for 62.8% of the overall value of its global shipment. European Union export data shows the largest export partners of the trade block were the United States (20%), China (10.5%) and Switzerland (8%). Within the European Union: - Germany, Netherland and France were the top exporters accounting for 43% of EU exports.
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