Archive:Extra-EU trade in goods
- Data from May 2014. Most recent data: Further Eurostat information, Main tables and Database.
International trade - especially the size and evolution of imports and exports - is an important indicator of the performance of the European Union (EU) economy, showing how it interacts with other countries and its status in the international economy.
This article takes a close look at recent trends in imports and exports, focusing on extra-EU trade, the main trading partners, and the most traded products.
(EUR 1 000 million) - Source: Eurostat (TET00018)
(EUR 1 000 million) - Source: Eurostat (ext_lt_maineu)
(EUR 1 000 million) - Source: Eurostat (TET00035)
(EUR 1 000 million) - Source: Eurostat (TET00035)
Main statistical findings
European Union trade in goods recovered in both imports and exports after the rapid decline of 2009, following the financial turmoil at the end of 2008. However, in 2013 imports showed a reduction in comparison to 2012, while exports continued to grow, even if at a reduced speed. As a result, in 2013 the EU trade balance was positive for the first time since the beginning of the series (2002). In 2013 about 40 % of EU imports came from Asian countries while the other European countries accounted for more than a quarter. The main destination for EU exports in 2013 was Asia with about one third of the total, followed by other European countries (28 %) and North America (19 %). The EU has a considerable deficit in trade with Asian countries, while the largest surplus is recorded in trade with North America.
Main EU partners
The USA has traditionally been the EU’s major trading partner but its relative significance has declined in recent years, in particular in exports. Between 2002 and 2013 the US proportion of total EU exports fell from 28 % to 17 %. Nevertheless, from 2009 the surplus with the USA has been increasing, and in 2013 it reached a record level since 2006.
China has become a main player in world trade in recent years. The EU trade with China has more than tripled since 2002. Since 2005 China ranks first among EU imports suppliers, while Russia is the second since 2011 . China is the third destination for EU exports, just after Switzerland. The EU records the largest bilateral deficit in trade with China. Other large deficits are measured in trade with Russia and Norway, while the traditional deficit with Japan has been largely reduced in recent years. The EU posts the only large-scale trade surplus in trade with the USA.
EU trade by main product groups
The EU exports mainly manufactured products: their share has annually been about 80 % of total EU exports. In 2011 machinery and vehicles made up 41 % of the total exports while other manufactured goods accounted for 22 % and chemical products for 16 %. Primary products account for 16 % of total exports; the most exported products within this category are energy products (with a share of 45 %) and food and drink (39 %).
The majority of EU imports (about 60 %) are manufactured goods. The breakdown diverges from exports: machinery and vehicles and chemical products account for a smaller share while the share of other manufactured goods is similar to that for exports. The surplus in trade of manufactured goods more than doubled from 2006 to 2013. The structure of imports has slightly changed in recent years. Between 2009 and 2013, the share of primary products increased from 34 % to 40 % while the respective share of manufactured goods declined. The main reason behind this is the rapid growth of imports of energy products. For the same reason the deficit in trade of primary products showed a rapid increase from 2009 to 2012, followed by a contraction in 2013.
Data sources and availability
EU data comes from Eurostat’s COMEXT database.
COMEXT is the Eurostat reference database for international trade. It provides access not only to both recent and historical data from the EU Member States but also to statistics of a significant number of third countries. International trade aggregated and detailed statistics disseminated from Eurostat website are compiled from COMEXT data according to a monthly process. Because COMEXT is updated on a daily basis, data published on the website may differ from data stored in COMEXT in case of recent revisions.
EU data are compiled according to community guidelines and may, therefore, differ from national data published by Member States. Statistics on extra-EU trade are calculated as the sum of trade of each of the 28 Member States with countries outside the EU. In other words, the EU is considered as a single trading entity and trade flows are measured into and out of the area, but not within it.
Context
Europe is the world's largest exporter of manufactured goods and services, and is itself the biggest export market for around 80 countries. Trade is an important indicator of Europe's prosperity and place in the world, and the bloc has become deeply integrated into global markets both for the products it sources and the exports it sells.
Because the 28 Member States of the European Union share a single market and a single external border, they also have a single trade policy. Both in the World Trade Organization, where the rules of international trade are agreed and enforced, and with individual trading partners, EU Member States speak and negotiate collectively.
See also
Further Eurostat information
Publications
- International trade and foreign direct investment – pocketbook – edition 2013
- External trade by enterprise characteristics
- Intra- and extra-European Union trade – monthly data – combined nomenclature (DVD)
Main tables
- International trade, see:
- International trade data (t_ext)
- International trade long-term indicators (t_ext_lti)
- International trade short-term indicators (t_ext_sti)
Database
- International trade data (ext)
- International trade long-term indicators (ext_lti)
- International trade short-term indicators (ext_sti)
- International trade detailed data (detail)
Dedicated section
Methodology / Metadata
- International trade data (ESMS metadata file - ext_esms)
Other information
- Quality report on international trade statistics, 2010
- Statistics on the trading of goods – user guide