What is Europe's main export?

In 2021, the top 5 EU export products were machinery and equipment (12.9 % of total exports), pharmaceutical products (10.7 %), motor vehicles (10.3 %), chemical products (9.1 %) and computer, electronic and optical products (7.9 %).

What is Europe's main import?

In 2021, the top 6 EU import products were computer, electronic & optical products (14 % of total imports), crude petroleum & natural gas (12 %), chemicals & chemical products (8 %), machinery & equipment, electrical equipment and basic metals (all three 6 %).

What is Europe known for producing?

European trade extends to all other parts of the world. The extracontinental exports of Europe include machine tools, automobiles, aircraft, chemicals (including pharmaceutical drugs), and such consumer items as clothing, textiles, books, specialty food products, expert services, and works of art.

What are the top 5 commodities from Europe?

The EU's top agricultural goods include cereals (wheat, barley, corn, rye and rice), sugar beets, fruits and vegetables, and vineyard products.

Is the EU richer than the US?

The EU as a whole is the second wealthiest and second largest economy in the world, below the US by about $5 trillion.

How to export to the EU - Export Helpdesk (European Commission)

How does Europe make money?

The EU's sources of income include: contributions from member countries; import duties on products from outside the EU; a new contribution based on non-recycled plastic packaging waste; and fines imposed when businesses fail to comply with EU rules.

Who does Europe trade the most with?

As regards trade in services, the US is the EU's main trading partner, followed by the UK and Switzerland[3]. The COVID-19 pandemic reduced international trade in goods, including that of the EU with its main trading partners, substantially in 2020.

What does Europe export to China?

European Union Exports to China. Value. Year. Machinery, nuclear reactors, boilers. $47.72B.

Where does the EU import from?

European Union trade balance, exports and imports by country

In 2019, European Union major trading partner countries for exports were United States, China, Switzerland, Russian Federation and Turkey and for imports they were China, United States, Russian Federation, Switzerland and Turkey.

What do we trade with Europe?

In 2020, the U.S's largest export to the EU were aerospace products and parts, at $35.7 billion. That was followed by mineral fuels, worth $28.9 billion, and machinery, worth $26.4 billion.

Does the EU export more than it imports?

EU exports grew less than imports and consequently the trade balance decreased from €216 billion in 2020 to €68 billion in 2021. The main destination for EU exports in 2021 were other European countries accounting for 35 % of the total, followed by Asia (30 %) and North America (20 %).

What are EU own resources?

An own resource based on the reallocated profits of very large multinational companies: a share of the profits that will be reallocated to the EU, based on the international agreement to tackle tax avoidance and ensure that profits are taxed where economic activity and value creation occur.

Why did Britain leave the EU?

Polls found that the main reasons people voted Leave were "the principle that decisions about the UK should be taken in the UK", and that leaving "offered the best chance for the UK to regain control over immigration and its own borders."

Is Europe becoming poor?

Europe could have another 25 million poor people by 2025 as the effects of austerity measures are felt across the continent, a leading poverty charity warned on Thursday.

Is the EU richer than China?

In 2020, average per capita GDP of EU is about 3.6 times of Chinas while the figure of the US is about 6 times of Chinas. In 2021, China's GDP per capita was around $12,551, according to the NBS, nearing that of a "high-income country" as defined by the World Bank and overtaking the global average GDP per capita.

What does the US rely on Europe for?

For instance, in 2016 the top U.S. exports to the EU were aircraft (US$38.5 billion), machinery ($29.4 billion) and pharmaceutical products ($26.4 billion). The top imports from the EU seem almost identical: machinery ($64.9 billion), pharmaceutical products ($55.2 billion) and vehicles ($54.6 billion).

What does India import from Europe?

India's principal imports were whey, vegetable seeds, olive oil lactose and lactose syrup, chocolate & other food preparations, whiskies, animal feed preparations etc. India's agriculture export to European Union is showing an increasing trend from.

What does the US trade with Germany?

Major U.S. goods export categories to Germany in 2019 were aircrafts and parts ($10.1 billion), vehicles ($7 billion), pharmaceuticals (5 billion), medical equipment ($2.7 billion), and industrial machinery ($2.2 billion), optical and medical instruments ($6.7 billion), and electrical machinery ($5.5 billion).

What is the US's greatest export to France?

In 2018, of the $36.3 billion in U.S. exports to France, the top commodity sectors were Transportation Equipment (39.8%), Machinery and Mechanical Appliances (15.5%) and Chemicals, Plastics, Leather (13.6%).