Your business partner in

EUROPE


How big is the EU economy?

In terms of the total value of all goods and services produced (GDP), it is bigger than the US economy. EU GDP in 2017: €15.3 trillion

Trade

Over 64 % of EU countries’ total trade is done with other countries in the bloc. With just 6.9 % of the world’s population, EU trade with the rest of the world accounts for some 15.6 % of global imports and exports.

  • Together with the United States and China, the EU is one of the 3 largest global players in international trade.
  • The 28 EU countries had the second largest share of global imports and exports of goods in 2016.
  • Their exports amounted to 15.6 % of the world’s total, though in 2014 these were surpassed for the first time in the EU’s existence by those of China (16.1 % in 2014, rising to 17.0 % in 2016). However, they remained ahead of the US (11.8 %).
  • The US had a larger share of world imports (17.6 %) than either the EU countries (14.8 %) or China (12.4 %).