European Union
EuropeTrade in European Union
The European Union’s export values were $ 6.6 and $2.4 trillion USD respectively in goods and services. The European Union’s top export category was manufactures, followed by agricultural products, and fuels and mining products. The European Union’s main export destination markets for goods and services trade were to the China, the the United States and the the the United Kingdom, with trade representing 21.3 per cent of GDP.
In terms of imports, The European Union’s import values were $6.5 and $2.2 trillion USD respectively in goods and services. The top import category was manufactures, followed by fuels and mining products and agricultural products. Leading import partners were the China, the United States of America, the Russian Federation, the the United Kingdom. The European Union is part of forty-five different Regional Trade Agreements, including with Central America, Pacific States and Eastern and Southern Africa States.
General InformationThis section includes general information on the economy, legal system, official languages and links to additional demographic information. |
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Abbreviation |
EU |
WTO Membership Date |
1 January 1995 |
Legal System |
unique supranational law system in which, according to an interpretive declaration of member-state governments appended to the Treaty of Lisbon, "the Treaties and the law adopted by the Union on the basis of the Treaties have primacy over the law of Member States" under conditions laid down in the case law of the Court of Justice; key principles of EU law include fundamental rights as guaranteed by the Charter of Fundamental Rights and as resulting from constitutional traditions common to the EU's 27 member states; EU law is divided into 'primary' and 'secondary' legislation; primary legislation is derived from the consolidated versions of the Treaty on European Union and the Treaty on the Functioning of the European Union and are the basis for all EU action; secondary legislation - which includes directives, regulations, and decisions - is derived from the principles and objectives set out in the treaties |
Additional Information | |
Financial InformationThis section includes financial information such as the currency, exchange rate lookup and local banks issuing trade finance. |
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Currency |
Euro |
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Exchange Rate |
Google Finance Currencies |
Contact InformationThis section includes contact information for business support organizations and national resources. |
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Additional Information |
ePing alert |
Links to other helpful resourcesThis section includes additional links to trade-related resources. |
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Trade Information Portal |
https://trade.ec.europa.eu/access-to-markets/en/home |
Last Reviewed: June, 2023
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