European Union Balance of Trade

The European Union is one of the world’s biggest players in global trade. It is the second largest exporter and importer of goods in the world, as extra-EU trade accounts for about 17 percent of global exports and about 15 percent of global imports. China exports more goods than the EU, while the United States imports more goods. The EU's main exports are manufactured goods such as machinery & vehicles and chemicals, as well as food & drink. Meanwhile, the bloc is a net importer of energy and raw materials. Its main imports also include machinery & vehicles and chemicals. Germany, Italy, France and the Netherlands account for the largest share of total trade. China is the most important trading partner of the European Union and accounts for about 16 percent of all EU trade in goods, followed by the United States, the United Kingdom, Switzerland and Russia.

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