EU records $172.7 bn trade surplus with US in 2023

12 Mar '24

1 min read

Pic: Adobe Stock

Insights

In 2023, the EU's trade surplus with the US reached €158 billion ($172.7 billion), with exports at €502 billion ($549 billion) and imports at €344 billion ($376 billion).
The US remains the EU's largest export partner and second-largest import source.
Trade surplus varied from €81 billion ($88.6 billion) in 2013 to €166 billion ($181.5 billion) in 2021.

In 2023, the European Union (EU) recorded a substantial €158 billion (approximately $172.7 billion) trade surplus with the US, exporting goods valued at €502 billion (approximately $549 billion) and importing goods worth €344 billion (approximately $376 billion), as per Eurostat. This trade dynamic cements the US as the EU's largest export partner, absorbing 19.7 per cent of the bloc's total exports outside the EU.

Additionally, the US stands as the second-largest source of the EU's imports, just after China, contributing to 13.7 per cent of the EU's total imports from outside the EU.

The trade relationship between the EU and the US has seen fluctuations over the past decade, with the EU's trade surplus ranging from a low of €81 billion (approximately $88.6 billion) in 2013 to a high of €166 billion (approximately $181.5 billion) in 2021, as per Eurostat.

Fibre2Fashion News Desk (DP)

More Eurostat News... More Textiles News - Europe...