EU - Country Commercial Guide
Commercial Sector

This is a best prospect industry sector for this country. Includes a market overview and trade data.

Last published date: 2021-10-20

U.S. government engagement in a variety of sectors will continue to contribute towards U.S. business growth and job creation.  These sectors include automotive (including electric vehicles), energy, the environment (e.g., smart grids, renewable energy, and liquid natural gas), health and medical technologies, manufacturing (e.g., additive manufacturing, advanced manufacturing, and advanced materials), digital technologies, and information and communication technologies.

For information on commercial best prospects in the each of the 27 Member States, please consult the relevant Member States’ Country Commercial Guide.

The European Union’s Trade Relationship[1]

Overview

Note: the below values are expressed in billions.

 

2019

 

2020

2021

(Estimate)

European Union GDP

(in current prices)

$15,168 ^^

 

$17,127 ^^

$17,948 *^

Exports of EU goods to the world

$2,279.5 **

 

$2,206.0 *^^

$1,253.4 ^

(January-June 2021)

Import of goods from the world

$2,301.5 **

$1,957.7 *^^

$1,152.6 ^

(January-June 2021)

 

2019

2020

2021

(Estimate)

Import of goods from the United States

$260.5 *

 

$231.4 *

Not available

Export of EU goods to the United States

$430.5 *

 

$403.0 *

Not available

Exchange rate (Euro to U.S. dollar)

$1.1199 ^^^

 

$1.142 ^^^

$ 1.195

Principal U.S. Exports to the European Union

According to the U.S. Trade Representative, the top five U.S. export markets to the European Union in 2019 were Germany ($60.1 billion), the Netherlands ($51.1 billion), France ($37.7 billion), Belgium ($34.7 billion), and Italy ($23.8 billion).  The top export categories (based on the two-digit Harmonized System code) in 2019 were aircraft ($35.7 billion), mineral fuels ($28.9 billion), machinery ($26.4 billion), optical and medical instruments ($25.8 billion), and pharmaceuticals ($25.6 billion).  Leading services exports from the United States to the European Union were in intellectual property (licenses to reproduce and/or distribute computer software), professional and management services, and the travel sector.

For detailed information, consult, among other sources, the factsheet “European Union, Trade in goods with USA,” published by the European Commission.

Principal EU Imports to the United States

According to the U.S. Trade Representative, the top five U.S. import suppliers from the European Union in 2019 were Germany ($127.5 billion), Ireland ($62.0 billion), France ($57.6 billion), Italy ($57.3 billion), and the Netherlands ($29.7 billion).  The top import categories (based on the two-digit Harmonization System code) in 2019 were pharmaceuticals ($77.0 billion), machinery ($75.6 billion), vehicles ($44.2 billion), and optical and medical instruments ($30.1 billion).  Leading services imports from the European Union to the United States were in travel, transport, and intellectual property (including education).

For detailed information, consult, among other sources, the factsheet “European Union, Trade in goods with USA,” published by the European Commission.

 

[1] Data Sources:

 * European Commission.

** World Bank, last checked 6 August 2021.

*** CIA World Factbook, last checked 3 August 2021.

*^ European Commission Summer Economic Forecast

*^^ Eurostat, International Trade in Goods, 2020.  Converted per average exchange rate in 2020: 1 EUR = 1.142 USD.

^ Eurostat estimate for 2021, based on data available from January to June 2021.  Converted per average exchange rate in 2021: 1 EUR = 1.195 USD.

^^ International Monetary Fund, World Economic Outlook Database, April 2021.

^^^ Average exchange rate per year: ExchangeRates.org.uk, last checked 3 August 2021.