The EU’s trading partners: US, China and the rest

Malmstrom 2019 trade

Statement of Cecilia Malmström, Member of the EC, on engaging trade negotiations with the United States (European Union, 2019)

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum.

Author: Charlotte Edmond, Formative Content


One-third of all EU trade last year was with the US and China. Combined, EU countries conducted €674 bn ($750 bn) worth of trade with the US in 2018. Import and export deals with China totalled €605 bn ($673 bn). That’s 17.1% and 15.4% respectively of all trading done with countries outside the EU – far ahead of Switzerland (6.7%), Russia (6.4%), Turkey (3.9%) or Japan (3.4%).

Image: European Commission

The US and China have been key trading partners of the EU for some years, although their relative contributions to the European coffers have shifted over time. In 2000, the US accounted for almost one-quarter of all extra-EU trading, falling to 14% in 2011. Meanwhile, China’s share of EU trading has almost tripled since 2000, when it stood at just over 5%. Russia and Japan, by contrast, have seen transactions with the EU decline in recent years.

Goods out

Image: European Commission

On an individual basis, most EU countries’ main export trading partner was another EU country. The exceptions to this were Germany, Ireland and the United Kingdom (which primarily exported to the US), Cyprus (which sent goods to the Cayman Islands) and Lithuania (where Russia was the primary export destination).

The main recipient of exported goods within the EU was Germany, which accounted for over one-quarter of all exports for some countries, including Czechia, Austria and Poland.

The 28 member states exported a total of €5474 bn ($6089 bn) worth of goods, 64% (€3518 bn or $3914bn) of which was trading with another member state. The biggest intra-EU traders were Slovakia, Czechia and Luxembourg. In contrast, Cyprus and the UK were the only countries to export more outside the EU than within it.

Goods in

Image: European Commission

 

Imports were also primarily conducted within the trading block itself, with the exception of Lithuania and the Netherlands, which partnered with Russia and China respectively.

The main origin of goods imported into the EU from outside the member states was China (20%), followed by the US (13%) and Russia (8%). A total of €5426 bn ($6036 bn) of goods was imported by the EU, of which €3446 bn ($3834 bn or 64%) came from another EU member state.

The Netherlands was the only country where less than half of its imports came from within the EU. This is due to trade flows being skewed by goods bound for other EU countries arriving in Dutch ports and being recorded as extra-EU imports. These goods are then re-exported within the EU, affecting intra-EU flows from the Netherlands.

the sting Milestone

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

More children killed by unsafe water, than bullets, says UNICEF chief

JADE Handover Ceremony at the European Parliement

Social Entrepreneurship in the times of the refugee crisis

Why AI will make healthcare personal

Traffic congestion cost the US economy nearly $87 billion in 2018

Parliament closes legal loophole to stop excessive Ukrainian chicken imports

US-North Korea summit in Singapore ‘a promising development’ says Guterres

COVID-19 lessons learnt: boosting EU civil protection

Iraqis paying an ‘unthinkable price’ to be heard, UN envoy tells politicians in Baghdad

UN chief announces progress on committee to shape Syria’s political future

EU Citizenship: New survey shows EU citizens are more aware of their rights

Deal on new rules for EU regional, cohesion and social funds over next 7 years

Bitpay @ TheNextWeb 2014: Innovation’s Best Friend

Summer 2018 Interim Economic Forecast: Resilient Growth amid increased uncertainty

Grave concern over escalating humanitarian crisis, casualties, displacement across northwest Syria: UN

Cultivating mental well-being while tackling food insecurity

The COVID-19 disinformation divide: understanding vaccine attitudes

Protests and civil unrest show ‘renewed sense of patriotism’ in Iraq, UN envoy tells Security Council

FIRST PERSON: An artist’s ‘obsession’ with New Orleans tradition

“Our house is on fire.” 16 year-old Greta Thunberg wants action

The power of digital tools to transform mental healthcare

Thursday’s Daily Brief: Ebola in DR Congo, malnutrition in Laos, baby health, support for Sahel force, #ClimateAction

Draghi: A bridge from Brussels to Berlin

DR Congo: Insecurity and attacks mean Ebola will keep spreading, warns world health agency

Syria: Why did the US now take the Russian offer for a truce? What next?

France-Germany: Divided in Europe, USA united in…Iran

How to tackle the perils of air pollution

African cooperation on peace ‘increasingly strong’, Security Council told

A new era of computing is coming. How can we make sure it is sustainable?

Further reforms needed for a stronger and more integrated Europe

Boosting the EU’s green recovery: Commission invests €1 billion in innovative clean technology projects

Drinking water: new plans to improve tap water quality and cut plastic litter

FROM THE FIELD: For refugees and migrants in Europe, healthcare’s essential but a challenge to find

Mobile technology saving lives: How simple technological solutions can improve our health care system

‘Preserve, revitalize and promote’ indigenous languages, or lose a ‘wealth of traditional knowledge’, UN chief says

The Stray

Civil society can make sure no one is left stranded by the skills gap

Mental Health: Role of the individual for their well-being in the pandemic

Google case: A turning point in competition rules enforcement

Climate Change : An Already Health Emergency

Coronavirus global response: 45 EU Humanitarian Air Bridge flights deliver over 1,000 tonnes of medical aid

Green Deal: Commission adopts new Chemicals Strategy towards a toxic-free environment

EU unfolds strategy on the Egypt question

Resisting EU budget cuts

The financial crisis always prefers the south of Eurozone

Young health workforce – a core of effective primary healthcare?

A shipping industry leader explains how to keep supply chains moving amid a pandemic

5 things you probably didn’t know about global health

Public opinion misled by the Commission on air transport safety

Mental Health in the COVID-19 era

Draghi hands over to banks €77.7 billion more

To be fair or to be sustainable? That is the (retirement) question

Brands can be a force for good and for growth. Here’s how

Why embracing human rights will ensure Artificial Intelligence works for all

Jakarta is one of the world’s fastest disappearing cities

Fighting against the Public Health System dismantling means guaranteeing assistance to all

Two peacekeepers killed in an attack against UN convoy in Mali

Mali: ‘Dire’ humanitarian situation, ‘grave’ security concerns challenge fragile peace

Benefits of rural migration effect often overlooked, new UN report suggests

COVID-19: from the chaos of the pandemic to the difficulties in vaccination

More Stings?

Advertising

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s