European Union
EuropeTrade in European Union
| The European Union’s export values were $7.18 and $2.69 trillion USD respectively. The European Union’s top export category was Manufactures, followed by Machinery and transport equipment, and Chemicals. In 2022, The European Union’s main export destination markets for goods and services trade were to United States, United Kingdom and China, with trade representing 106.00 per cent of GDP. The European Union’s import values were $7.49 and $2.44 trillion USD respectively in 2022. The European Union’s top import category was Manufactures, followed by Machinery and transport equipment and Fuels and mining products. Leading import partners were China, United States and Russian Federation. The European Union is part of 46 different Regional Trade Agreements, including EU – Albania and EU – Algeria. |
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, 2024
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Resources related to European Union
View ResourceAnnual report on European SMEs
The annual report, prepared on a yearly basis, provides a synopsis of the size, structure and importance of SMEs to the European economy and an overview of the past and forecasted performance of SMEs from 2008 to 2024.
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UK services trade by business characteristics: 2016 to 2018
Breakdown of UK trade in services by business characteristics (size and ownership), industry and region, on a balance of payments basis using a new experimental dataset.
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UK trade in goods by business characteristics
UK trade in goods by business characteristics data details international trade in goods by industry, age and size of business.
