EU trade with the Indo-Pacific region increased in 2022

Imports and exports of goods from the Indo-Pacific region to the EU continued to grow in 2022. 
Imports increased from €515 billion in 2011 to €1 120 billion in 2022 (+117%), while exports grew from €407 billion to €645 billion in the same period (+59%). With EU imports growing more than exports, the EU’s trade deficit with the Indo-Pacific region reached €471 billion in 2022.
 

 Source dataset: DS-018995
 

The growth rates of imports and exports from the Indo-Pacific region in EU trade dipped during the height of the COVID-19 pandemic (-1% and -7%, respectively, in 2020 compared with 2019). However, the recovery by 2022 has been significant compared with 2020, with a 61% increase in imports and a 26% increase in exports.

In 2022, the Indo-Pacific region made up a significant share of all EU imports (37%) and exports (25%). 

 Source dataset: DS-018995

This news article is being published on the occasion of the Ministerial Forum for Cooperation in the Indo-Pacific, being held on 2 February.