POST Online Media Lite Edition



 

EU trade in goods balance close to €200 bn surplus in 2019

Christian Fernsby |
In 2019, the trade in goods balance of the European Union of 27 Member States (EU) was in surplus by €197 billion, a significant increase with respect to 2018 (+€152 bn).

Article continues below



Topics: TRAD    SURPLUS   

Looking at the trend over time, after recording a small deficit between 2009 and 2011, the EU trade balance recorded a continuous surplus that peaked at €264 billion in 2016, and then decreased in 2017 and 2018.

Looking at the evolution of the flows, extra-EU exports of goods rose significantly between 2009 and 2012, remained relatively stable until 2016 and then increased again to reach €2 132 billion in 2019. Imports followed roughly the same pattern as exports.

They increased between 2009 and 2011, remained stable between 2011 and 2016 and rose again to reach €1 935 bn in 2019. These data are issued by Eurostat, the statistical office of the European Union.

Germany, main export destination for a majority of Member States

In almost all EU Member States, the main partner for exports of goods in 2019 was another member of the European Union, except for Germany and Ireland (the United States was the main destination of exports) as well as Sweden (Norway) and Lithuania (Russia).

Overall, Germany was the main destination of goods exports for 16 Member States. In some Member States, over a quarter of exports went to one single partner. This partner was Germany for Czechia (32% of exports of goods), Austria (29%), Poland and Hungary (both 28%), and the United States for Ireland (31%).

For extra-EU trade, the three main destinations of EU exports in 2019 were the United States (18% of all extra-EU exports), the United Kingdom (15%) and China (9%).

Intra-EU exports prevail in all Member States apart from Ireland and Cyprus

In 2019, the 27 EU Member States exported a total of €5 193 bn of goods, of which €3 061 bn (or 59%) were destined for another Member State (intra-EU trade).

With more than three-quarters of goods exported to other EU Member States, Slovakia and Luxembourg (both 80% intra-EU in total exports), Czechia (79%) and Hungary (78%) recorded the highest shares of intra-EU exports in 2019.

At the opposite end of the scale, Ireland (37%) and Cyprus (41%) were the only Member States that exported more goods to non-EU countries than within the EU in 2019.

Germany, also main source of imports for majority of EU Member States

As for exports, the main partner for imports of goods in 2019 was another member of the European Union in all Member States except Ireland (the United Kingdom was the main partner for goods imported), Lithuania (Russia) and the Netherlands. Overall, Germany was the main source of goods imports for 16 Member States.

In six Member States, more than 25% of imports of goods came from a single partner country in 2019: Austria (41% of imports of goods originated from Germany), Luxembourg (34% from Belgium), Portugal (30% from Spain), Czechia (29% from Germany), Ireland (28% from the United Kingdom) and Poland (27% from Germany).

For extra-EU trade, the main country of origin of goods imported into the EU in 2019 remained China (19% of all extra-EU imports), followed by the United States (12%) and the United Kingdom (10%).

Intra-EU imports prevail in almost all Member States

In 2019, the 27 EU Member States imported a total of €4 937 bn of goods, of which €3 002 bn (or 61%) came from another EU Member State (intra-EU trade).

More than three-quarters of total imports of goods originated from another EU Member State in Luxembourg (83%), Slovakia and Croatia (both 79%), Austria and Estonia (both 76%). In contrast, Ireland (38%) and the Netherlands (40%) were the only Member States where less than half of the imports came from within the EU. In the latter case, this is largely due to the so-called 'Rotterdam effect'.

Machinery & transport equipment dominated both EU exports and imports

In 2019, machinery and transport equipment continued to play a major role in EU trade in goods with the rest of the world, accounting for 41% of total extra-EU exports and 33% of imports.

Other manufactured goods (23% of extraEU exports and 24% of extra-EU imports) as well as chemicals (19% of extra-EU exports and 12% of extra-EU imports) also played a significant role in EU trade in goods in 2019. Energy made up a minor share of extra-EU exports (5%), but accounted for 19% of all imports.

40% of EU trade is with the United States, China and the United Kingdom

In 2019, the United States (€616 billion, or 15.2% of total extra-EU trade in goods, i.e. the sum of exports and imports), China (€560 bn, or 13.8%) and the United Kingdom (€512 bn, or 12.6%) were the three main goods trading partners of the European Union of 27 Member States (EU), well ahead of Switzerland (€257 bn, or 6.3%), Russia (€232 bn, or 5.7%), Turkey (€138 bn, or 3.4%) and Japan (€124 bn, or 3.0%).

However, the trends observed over time differ for these top trading partners of the EU. After remaining relatively stable around 12% between 2009 and 2014, the share of the United States in EU total trade in goods increased since to reach 15% in 2019.

The share of China has increased from 11% in 2009 to almost 14% in 2019. The share of the United Kingdom decreased from nearly 15% in 2009 to slightly below 13% in 2019. The shares of Switzerland, Turkey and Japan have remained relatively stable over the period, while the share of Russia has fluctuated.

The European Union (EU27) includes Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland and Sweden.


What to read next

Business activity expectations remain close to ten-year low in England
Goods imports from China in Netherlands worth over 39 billion euros
Industrial confidence indicator in Slovakia in January decreased by 3,3 p.p.

Another round of heavy rainfall and severe storms impacting southern U.S.

 
A broad area of showers and thunderstorms is expected Friday across much of the eastern U.S., with the chance for moderate to heavy rainfall likely to focus from the Lower Great Lakes south through the Appalachians into the Ohio/Tennessee Valleys and to the Gulf Coast.
 
 

Latest

U.S oil and gas rigs count increased by 1 to 604
NYCEDC supporting major battery energy storage project in New York City
UK: People with HIV can now donate eggs or sperm to start family
SEG Solar and Grand Batang City sign land utilization deal for Southeast Asia's largest PV industrial park

NEWS

French growers protest Moroccan imports

Kenya restores internet services after undersea cable outages
U.S.: Severe weather and flooding possible in southeast and Hawaii; above normal temperatures for west
Body of sixth missing worker recovered from Baltimore bridge collapse
1.6 tons of fresh vegetables and processed food seized in Singapore
U.S.: Strong Pacific storm approaching
 

BUSINESS

U.S. drillers cut oil and gas rigs to 603

Number of U.S. oil and natural gas rigs down
U.S. added 2 oil rigs
U.S. oil rig count up by 5 to 511
Rhode Island Governor, State Police promote safe travel across Washington Bridge
U.S. drillers cut oil and gas rigs to 620
 

Trending Now

Bulgaria demands €400 million from Gazprom for suspended gas supplies

Maersk speeds up supply chains in Europe with new Cross Dock facility

U.S oil and gas rigs count increased by 1 to 604

SEG Solar and Grand Batang City sign land utilization deal for Southeast Asia's largest PV industrial park


POLITICS

Governor Moore announces renewal and expansion of economic MoU with South Australia

Governor Parson to embark on trade mission to Italy to promote Missouri as ideal business location
Governor Abbott hosts Kosovo President Osmani
Australian government to set up inquiry to examine impact of social media
Hungary and China sign 19 cooperation agreements during Xi's visit
Türkiye announces suspension of trade activities with Israel
 

Today We Recommend

French growers protest Moroccan imports


Highlights 

BlueHalo to expand operations, adding 200 new jobs in Maryland

Takeda operating profit down 56.4%

Nissan posts increase in Q4 operating profit and net income


COMPANIES

Bulgaria demands €400 million from Gazprom for suspended gas supplies

BlueHalo to expand operations, adding 200 new jobs in Maryland
Maersk speeds up supply chains in Europe with new Cross Dock facility
Unite says ‘all options’ on table to save Tennent’s Newbridge plant
Fortaco sells its heavy project business in Hungary
Gibson Custom introduces Slash 1963 ES-335
 

CAREERS

BioMar announces changes in management in Ecuador

CLG appoints managing director for Equatorial Guinea
Mark Gazit appointed executive chairman of N.E.W.S.
IFCO appoints Sebastian Grams as chief digital officer
Marlabs appoints Arun Mukunda as CRO
AfdB names Ambassador Jalel Trabelsi as Special Envoy for Middle East and North Africa and Gulf region
 

ECONOMY

Eurozone reports modest Q1 GDP growth, stable annual inflation

Italy sees faster economic growth in Q1
Slovenia's economy expected to grow 0.9 pct in Q1
Italy faces deficit infringement procedure
Real GDP increased in all 50 U.S. states
Inflation continues to decline in Germany
 

EARNINGS

Dole Q1 revenue $2.1 billion

Hapag-Lloyd Q1 EBITDA $942 million
Stellantis Q1 revenues down 12%
Takeda operating profit down 56.4%
Ahold Delhaize Q1 sales up 1.3%
Nissan posts increase in Q4 operating profit and net income
 

OP-ED

Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
 

AGRIFISH

UK government unveils major package of farming and food sector support

Governor Desantis signs legislation to keep lab-grown meat out of Florida
Tanzania, Kenya resolve poultry export dispute
FAO Food Price Index rises in March
Australia grants license for GM bananas amid Fusarium Wilt TR4 concerns
Indian government allows exports of 10,000 tons of onions to UAE
 

LEADERSHIP

Study finds workers misjudge wage markets

Some organizations may need to expand their hierarchical structures earlier than others
Study finds there's right way and wrong way to deliver negative feedback in workplace
Allyship is critical and its needs appreciation
Generating 'buzz' about new products can influence their success
Hiring 'problem directors' can knock up to 64% off firm's value
 

CRIME

HSBC pays penalties for alleged breaches of Consumer Data Right rules

Sanofi to settle thousands of Zantac cancer lawsuits
Former asset manager and board member of Geneva private bank referred to Swiss Federal Criminal Court
South Africa: SAP ordered to pay SIU $26m over 'invalid' Eskom contracts
Former Steinhoff director appears in court for $1.1b fraud, racketeering
Genesis agrees to pay $21 million penalty to settle SEC charges
 

Magazine

TRAVEL

Morocco’s first Radisson branded hotel opens in Casablanca

Buna channels, an unreal and beautiful part of Bosnia and Herzegovina
JW Marriott unveils Mindful Haven with opening of JW Marriott Hotel Nairobi
Sotheby's Sports Week returns with fantastic artifacts
Red Roof properties open in Michigan
Treyam, your premier lagoon destination in Saudi Arabia
 

SEA, LAND, AIR

2025 Chevrolet Equinox stands apart with fresh looks and capability

Hill Helicopters HX50, luxury in the sky
Opel Movano becomes fully equipped camper van
Porsche Panamera, new hybrid variants
Dodge Charger, 670 horsepower of electric
Pagani Huayra R Evo, 900 hp from 770 Nm
 

DESIGN

Cold night, hot fire pit, cool entertainment

Embellish your home with PVC panels
You'll have to hurry if you want one of 20 new Louis Vuitton watches
Luxury duvet looks good, fells good and keeps you healthy
Vacheron Constantin, watches for life and more
Schüller kitchens, where functionality marries design
 

GADGETS

reMarkable 2, monochrome tablet for your thoughts and your eyes

OnePlus Ace 3V, first with Snapdragon 7 Plus Gen 3
ASUS Zenfone 11 Ultra, flagship with a reason
Samsung Galaxy S24 is photography powerhouse
Casette tapes are making a big comeback, and so are portable players
Neumann TLM 103, standard microphone for both voice and music
 

HEALTH

EU health watchdog urges vaccinations to stem surge in Whooping Cough cases

Brazil resumes insulin production after two decades
India launches first home-grown gene therapy for cancer
UK scientists win funding for 'cancer detecting' Lollipops
State to cover rare disease treatment costs in Bulgaria
Type 1 diabetes patients in England to receive 'artificial pancreas' as medication
 

MEANTIME

Rare species of wild bees discovered in Berlin

SLAC completes construction of largest digital camera ever built for astronomy
Solar eclipse next week in U.S., Mexico and Canada
Gravitational waves may have made human life possible
Astronomers unveil strong magnetic fields spiraling at the edge of Milky Way's central black hole
Scientists on hunt for evidence of quantum gravity's existence at South Pole