USA-EU - international trade in goods statistics


Data extracted in March 2019.

Planned article update March 2020.

Highlights
The United States was the largest importer and the third largest exporter in the world in 2017.
In 2018 the United States (21 %) was the largest partner for EU exports of goods and the second largest partner for EU imports of goods (13 %).
Among EU Member States, the United Kingdom was the largest importer of goods from the United States and Germany was the largest exporter of goods to the United States in 2018.

Imports, exports and balance for trade in goods between the EU-28 and the United States, 2008-2018

This article provides a picture of the international trade in goods between the European Union (EU) and the United States. It analyses the type of goods exchanged between the two economies and the shares of each EU Member State in those exchanges.

This article is part of an online publication providing recent statistics on international trade in goods, covering information on the EU's main partners, main products traded, specific characteristics of trade as well as background information.

Full article

EU and the United States in world trade in goods

Figure 1 shows the world largest traders. The United States (EUR 1 368 billion, 11 %) was the third largest exporter in the world, preceded by China (EUR 2 004 billion, 16 %) and the EU (EUR 1 879 billion, 15 %) and followed by Japan (EUR 618 billion, 5 %) and South Korea (EUR 508 billion, 4 %). The United States (EUR 2 131 billion, 17 %) was the largest importer in the world, followed by the EU (EUR 1 857 billion, 15 %), China (EUR 1 632 billion, 13 %), Japan (EUR 594 billion, 5 %) and Hong Kong (EUR 522 billion, 4 %).

Figure 1: The position of the United States among the world's largest traders of goods, 2017
source: Eurostat (ext_lt_introle)


Figure 2 shows the imports and exports of the EU and the United States indexed at 100 in 2007 for the period to 2017. It also shows the cover ratio (exports / imports) for this period. Exports from the EU were lowest in 2009 (89) and highest in 2017 (152). Imports to the EU were lowest in 2009 (85) and highest in 2017 (128). The cover ratio for the EU was lowest in 2008 (83 %) and highest in 2015 (104 %) and was 101 % in 2017. Exports from the United States were lowest in 2009 (89) and highest in 2017 (161). Imports to the United States were lowest in 2009 (78) and highest in 2017 (145). The cover ratio for the United States was lowest in 2007 (58 %) and highest in 2013 (68 %) and was 64 % in 2017.

Figure 2: Trade in goods of the EU-28 and the United States (2007 = 100) and cover ratio (%), 2007 to 2017
source: Eurostat (ext_lt_introle)


Both exports to and imports from the United States rose between 2008 and 2018

Figure 3 shows the position of the United States among the largest trade partners of the EU.The United States (21 %) was the largest partner for EU exports of goods. It is followed by China (11 %), Switzerland (8 %), Russia (4 %) and Turkey (4 %). It was the second largest partner for EU imports of goods (13 %), preceded by China (20 %) and followed by Russia (8 %), Switzerland (6 %) and Norway (4 %).

Figure 3: The position of the United States among the EU-28's main partners for trade in goods, 2018
Source: Eurostat (ext_lt_maineu)

Figure 4 shows exports, imports and trade balance between the EU and the United States. In 2008 the EU had a trade surplus with the United States of EUR 65 billion. This remained a surplus throughout the whole period, reaching EUR 139 billion in 2018. EU exports to the United States were highest in 2018 (EUR 406 billion) and lowest in 2009 (EUR 204 billion). EU imports from the United States were highest in 2018 (EUR 267 billion) and lowest in 2009 (EUR 156 billion).

Figure 4: Imports, exports and balance for trade in goods between the EU-28 and the United States, 2008-2018 (EUR billion)
source: Eurostat (ext_lt_maineu)


EU-United States trade by type of goods

Figure 5 shows the breakdown of EU trade with the United States by SITC groups. The red colours denote the primary products: food & drink, raw materials and energy, while the blue colours show the manufactured goods: chemicals, machinery & vehicles and other manufactured goods. Finally, other goods are shown in green. In 2018, EU exports of manufactured goods (89 %) had a higher share than primary goods (10 %). The most exported manufactured goods were machinery & vehicles (43 %), followed by chemicals (24 %) and other manufactured products (22 %). In 2018, EU imports of manufactured goods (80 %) also had a higher share than primary goods (16 %). The most imported manufactured goods were machinery & vehicles (42 %), followed by chemicals (21 %) and other manufactured products (18 %).

Figure 5: EU-28 exports to and imports from the United States by product group, 2008 and 2018 (EUR billion)
source: Eurostat DS-018995


Figure 6 shows the evolution of EU imports and exports by SITC group since 2008. In 2018, the EU had trade surpluses in machinery & vehicles (EUR 61.7 billion), chemicals (EUR 44.1 billion), other manufactured products (EUR 40.5 billion) and food & drink (EUR 11.1 billion). The EU had trade deficits in other products (EUR 3.0 billion), raw materials (EUR 6.2 billion) and energy (EUR 9.1 billion).

Figure 6: EU-28 trade with the United States by product group, 2008-2018 (EUR billion)
source: Eurostat DS-018995


EU-United States most traded goods

Another interesting way to look at the data is to investigate the cover ratio (exports / imports) of traded goods, showing the direction of the trade flows between the two economies. These ratios can be found in the right-hand margin of Figure 7. Eight products have ratios above 200, indicating EU exports to the United States are at least twice as large as EU imports from the United States. Two products have ratios below 50, indicating EU imports from the United States are at least twice as large as EU exports to the United States. Ten products have ratios between 50 and 200, showing more balanced trade.

Figure 7: Most traded goods between EU-28 and the United States, top 20 of SITC level 3 products, 2018 (EUR billion)
source: Eurostat DS-018995


Trade with the United States by Member State

Figure 8a shows the EU imports from the United States by Member State. The three largest importers from the United States in the EU were the United Kingdom (EUR 55 426 million), Germany (EUR 48 547 million) and the Netherlands (EUR 39 047 million). Ireland (49 %) held the highest share for the United States in its total extra-EU imports.

Table 8a: EU-28 imports of goods from the United States by Member State, 2018
source: Eurostat DS-018995


Figure 8b shows the EU exports to the United States by Member State. The three largest exporters to the United States in the EU were Germany (EUR 114 524 million), the United Kingdom (EUR 54 848 million) and Italy (EUR 42 449 million). Ireland (56 %) held the highest share for the United States in its total extra-EU exports.

Table 8b: EU-28 exports of goods to the United States by Member State, 2018
source: Eurostat DS-018995


Figure 8c shows the trade balance between the EU Member States and the United States. Twenty-three Member States had a trade surplus with the United States. The largest was held by Germany (EUR 65 976 million), followed by Italy (EUR 26 485 million) and Ireland (EUR 23 328 million). Five Member States had a trade deficit with the United States. The largest was held by the Netherlands (EUR 12 147 million), followed by Belgium (EUR 5 688 million) and the United Kingdom (EUR 577 million).

Table 8c: EU-28 trade balance of goods with the United States by Member State, 2018 (EUR million)
source: Eurostat DS-018995


Source data for tables and graphs

Data sources

EU data is taken from Eurostat's COMEXT database. COMEXT is the reference database for international trade in goods. 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 via the Eurostat website are compiled from COMEXT data according to a monthly process.

Data are collected by the competent national authorities of the Member States and compiled according to a harmonised methodology established by EU regulations before transmission to Eurostat. For extra-EU trade, the statistical information is mainly provided by the traders on the basis of customs declarations.

EU data are compiled according to Community guidelines and may, therefore, differ from national data published by the Member States. Statistics on extra-EU trade are calculated as the sum of trade of each of the 28 EU 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.

Data for the other major traders are taken from the Comtrade database of the United Nations. Data availability differs among countries, therefore Figure 1 shows the latest common available year for all the main traders. For the calculation of shares the world trade is defined as the sum of EU trade with non-EU countries (source: Eurostat) plus the international trade of non-EU countries (source: IMF Dots database).

Methodology

According to the EU concepts and definitions, extra-EU trade statistics (trade between EU Member States and non-EU countries) do not record exchanges involving goods in transit, placed in a customs warehouse or given temporary admission (for trade fairs, temporary exhibitions, tests, etc.). This is known as ‘special trade’. The partner is the country of final destination of the goods for exports and the country of origin for imports.

Product classification

Information on commodities exported and imported is presented according to the Standard international trade classification (SITC). A full description is available from Eurostat’s classification server RAMON.

Unit of measure

Trade values are expressed in millions or billions (109) of euros. They correspond to the statistical value, i.e. to the amount which would be invoiced in the event of sale or purchase at the national border of the reporting country. It is called a FOB value (free on board) for exports and a CIF value (cost, insurance, freight) for imports.

Context

Trade is an important indicator of Europe’s prosperity and place in the world. The bloc is deeply integrated into global markets both for the products it sources and the exports it sells. The EU trade policy is an important element of the external dimension of the ‘Europe 2020 strategy for smart, sustainable and inclusive growth’ and is one of the main pillars of the EU’s relations with the rest of the world.

Because the 28 EU Member States share a single market and a single external border, they also have a single trade policy. EU Member States speak and negotiate collectively, both in the World Trade Organization, where the rules of international trade are agreed and enforced, and with individual trading partners. This common policy enables them to speak with one voice in trade negotiations, maximising their impact in such negotiations. This is even more important in a globalised world in which economies tend to cluster together in regional groups.

The openness of the EU’s trade regime has meant that the EU is the biggest player on the global trading scene and remains a good region to do business with. Thanks to the ease of modern transport and communications, it is now easier to produce, buy and sell goods around the world which gives European companies of every size the potential to trade outside Europe.

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International trade in goods - long-term indicators (t_ext_go_lti)
International trade in goods - short-term indicators (t_ext_go_sti)
International trade in goods - aggregated data (ext_go_agg)
International trade in goods - long-term indicators (ext_go_lti)
International trade in goods - short-term indicators (ext_go_sti)
International trade in goods - detailed data (detail)
EU trade since 1988 by SITC (DS-018995)