european union Import Data
Total HS code(6-digit)
3
Total Buyers
2
Total Supply Country/Region
1
Total Amount (USD)
18,923
Data displayed above is sourced from our database and does not fully represent the country’s trade activities.
European Union Import/Export Overview and Domestic Market Update
Imports & Exports
Top Trade Partners: The EU's main trading partners include China, the United States, Switzerland, and Russia.
Top 5 Imports: 1. Machinery, 2. Chemicals, 3. Vehicles, 4. Pharmaceuticals, 5. Mineral fuels; these account for a significant portion of total EU imports.
Top 5 Exports: 1. Vehicles, 2. Machinery, 3. Chemicals, 4. Pharmaceuticals, 5. Optical, technical apparatus; these represent a substantial chunk of the EU's total exports.
Trade Balance: The EU typically runs a trade surplus, exporting more than it imports, although this balance can fluctuate based on global market conditions.
Trade Policy: The EU's trade policies focus on liberalization, with efforts to reduce barriers and negotiate free trade agreements with key partners.
Domestic Market
Consumer Spending: Consumer spending is robust but faces pressure from rising living costs and economic uncertainties.
Interest Rates & Inflation: The European Central Bank (ECB) has been increasing interest rates to combat inflation, which has been elevated due to energy prices and supply chain disruptions.
Supply Chain Resilience: Supply chains are recovering from pandemic disruptions, but face new challenges from geopolitical tensions and energy supply issues.
Industry Performance: The tech sector and services are showing strong growth, while manufacturing and agriculture are adapting to new environmental and trade regulations.
Overall Outlook
The EU's economic resilience and strategic trade policies position it well for navigating global challenges, with a focus on innovation, sustainability, and strengthening its internal market.
