The United States is the European Union's biggest trading partner as of 2023, with the total value of trade between the EU and the North American country exceeding ****billion dollars. China was the EU's second-largest trading partner, however, in contrast to the substantial trade surplus that the EU has with the United States, the EU has a large trade deficit with China. In 2022, the EU imported *** billion euros worth of goods from China than it exported to the East Asian country. Other prominent trade partners included the UK, Switzerland, and Turkey.

Key information about EU's Trade Balance

• EU's Trade Balance recorded a surplus of 13.5 USD bn in Dec 2024, compared with a surplus of 10.8 USD bn in the previous month
• EU's Trade Balance data is updated monthly, available from Jan 2002 to Dec 2024, with an averaged value of 5.2 USD bn
• The data reached an all-time high of 31.0 USD bn in Dec 2020 and a record low of -57.1 USD bn in Aug 2022

CEIC converts monthly Trade Balance into USD. Eurostat provides Trade Balance in EUR. Federal Reserve Board average market exchange rate is used for currency conversions. European Union stands for EU27 excluding UK.

Further information about EU's Trade Balance

• In the latest reports, EU's Total Exports reached 228.1 USD bn in Dec 2024, an increase of 1.8% YoY (year-on-year)
• Total Imports recorded 214.6 USD bn in Dec 2024, an increase of 1.8% YoY (year-on-year)

Key information about European Union Total Exports

• European Union Total Exports recorded 228.1 USD bn in Dec 2024, compared with 231.0 USD bn in the previous month
• EU Total Exports data is updated monthly, available from Jan 2002 to Dec 2024, with an averaged value of 181.3 USD bn
• The data reached an all-time high of 237.3 USD bn in Aug 2024 and a record low of 71.9 USD bn in Feb 2002

CEIC converts monthly Total Exports into USD. Eurostat provides Total Exports, FOB, in EUR. Federal Reserve Board average market exchange rate is used for currency conversions. European Union stands for EU27 excluding UK.


Further information about European Union Total Exports

• In the latest reports, EU Total Exports grew 2.8 % YoY in Dec 2024
• Total Imports recorded 214.6 USD bn in Dec 2024, which registered an increase of 1.8 % year on year
• EU Trade Balance recorded a surplus of 13.5 USD bn in Dec 2024

Graph and download economic data for International Trade: Net trade: Value (goods): Total for the European Union (EU28XTNTVA01CXMLQ) from Q1 1999 to Q4 2019 about EU, trade, and Europe.

The U.S. dollar is the most commonly used currency by the member states of the European Union when importing goods from outside the EU, reflecting the currency's status as the world's preeminent medium of exchange. During the decade beginning in 2010, the EU invoiced more than half of its imports in dollars, peaking in 2012 at 58 percent, before falling to less than half in 2020. The amount of imports invoiced in Euro fell at the beginning of the decade to around a third, before recovering to over 38 percent in 2020.

This perhaps reflects a growing diversification of international trade in the late 2010s, which has seen currencies such as the Euro and the Chinese Renminbi challenge the U.S. dollar in some regions. Another possibility could also be that as a result of the COVID-19 pandemic, trade was conducted more regionally in 2020, with EU trade partners closer to Europe being more likely to use currencies other than U.S. dollars. The share of imports invoiced in the currencies of EU member states who do not use the Euro fell dramatically in 2020, as the United Kingdom left the EU, meaning that imports invoiced in British Pound Sterling were counted among the "other currency" share.

The average for 2023 based on 41 countries was 20.72 billion U.S. dollars. The highest value was in Ireland: 181.48 billion U.S. dollars and the lowest value was in France: -43.85 billion U.S. dollars. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

Graph and download economic data for International Trade: Net trade: Value (goods): Total for the European Union (EU28XTNTVA01CXMLM) from Jan 1999 to Jan 2020 about EU, trade, and Europe.

Ukraine exported goods worth almost ** billion U.S. dollars to the European Union (EU) in 2024, which was roughly a billion U.S. dollars more than in the previous year. Over the observed period, the lowest value of exports was recorded in 2020.

Key information about European Union Total Imports

• European Union Total Imports recorded 214.6 USD bn in Dec 2024, compared with a value of 220.3 USD bn in the previous month
• European Union Total Imports data is updated monthly, available from Jan 2002 to Dec 2024, with an average number of 172.1 USD bn
• The data reached an all-time high of 278.8 USD bn in Aug 2022 and a record low of 68.4 USD bn in Jan 2002

CEIC converts monthly Total Imports into USD. Eurostat provides Total Imports, CIF, in EUR. Federal Reserve Board average market exchange rate is used for currency conversions. European Union stands for EU27 excluding UK.


Further information about European Union Total Imports

• In the latest reports, European Union Total Imports grew 1.8 % YoY in Dec 2024
• Total Exports grew 2.8 % YoY, to 228.1 USD bn in Dec 2024
• European Union Trade Balance recorded a surplus of 13.5 USD bn in Dec 2024

The United States recorded a trade deficit of 60.18 USD Billion in June of 2025. This dataset provides the latest reported value for - United States Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In the year 2022, the value of trade goods exported from the United Kingdom to the European Union (27 countries) was around ***** billion U.S. dollars. Value of exported goods from the UK to EU-27 countries fluctuated in the time period between 2012 and 2022.

Graph and download economic data for Net Trade: Value Goods for the European Union (XTNTVA01EUQ667S) from Q1 1999 to Q4 2019 about EU, trade, Europe, Net, and goods.

Net Trade: Value Goods for the European Union was 1438449374.98346 US $, Monthly Level in January of 2023, according to the United States Federal Reserve. Historically, Net Trade: Value Goods for the European Union reached a record high of 1438449374.98346 in January of 2023 and a record low of -125295093210.89300 in July of 2022. Trading Economics provides the current actual value, an historical data chart and related indicators for Net Trade: Value Goods for the European Union - last updated from the United States Federal Reserve on July of 2025.

Key information about European Union Total Exports to China

• European Union Total Exports to China recorded 17.588 USD bn in Dec 2024, compared with 17.500 USD bn in the previous month
• EU Total Exports to China data is updated monthly, available from Jan 2002 to Dec 2024, with an averaged value of 14.225 USD bn
• The data reached an all-time high of 23.443 USD bn in May 2021 and a record low of 1.984 USD bn in Feb 2002

CEIC converts monthly Total Exports to China into USD. Eurostat provides Total Exports to China, FOB, in EUR. The Federal Reserve Board average market exchange rate is used for currency conversions. European Union stands for EU27 excluding UK.

The Gross Domestic Product (GDP) in European Union was worth 19423.32 billion US dollars in 2024, according to official data from the World Bank. The GDP value of European Union represents 18.29 percent of the world economy. This dataset provides the latest reported value for - European Union GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

With most European Union (EU) countries, Ukraine had a negative trade balance, or trade deficit. The highest trade deficit was recorded for Germany, at ************* U.S. dollars, in 2023. Ukraine's highest trade surplus was with Romania, as the value of exports to that country exceeded the value of imports from it by around *** billion U.S. dollars.

Net Trade: Value Goods for the European Union was 4.62205 US $, Monthly Level in January of 2023, according to the United States Federal Reserve. Historically, Net Trade: Value Goods for the European Union reached a record high of 4.84180 in January of 2021 and a record low of 4.62205 in January of 2023. Trading Economics provides the current actual value, an historical data chart and related indicators for Net Trade: Value Goods for the European Union - last updated from the United States Federal Reserve on July of 2025.

Key information about European Union Total Exports

• European Union Total Exports expanded 2.8 % YoY in Dec 2024, compared with an increase of 2.4 % YoY in the previous month
• EU Total Exports Growth data is updated monthly, available from Jan 2003 to Dec 2024, with an averaged rate of 5.2 %
• The data reached an all-time high of 42.7 % in Apr 2021 and a record low of -28.7 % in Apr 2020

CEIC calculates Total Exports Growth from monthly Total Exports. Eurostat provides Total Exports, FOB, in EUR. European Union stands for EU27 excluding UK.


Further information about European Union Total Exports

• In the latest reports, EU Total Exports recorded 228.1 USD bn in Dec 2024
• Total Imports recorded 214.6 USD bn in Dec 2024, which registered an increase of 1.8 % year on year
• EU Trade Balance recorded a surplus of 13.5 USD bn in Dec 2024

Graph and download economic data for Exports: Value Goods for the European Union (XTEXVA01EUQ667S) from Q1 1999 to Q4 2019 about EU, exports, trade, Europe, and goods.

South Korea Exports: Europe: EU (28) data was reported at 6,768,024.000 USD th in Mar 2025. This records an increase from the previous number of 5,686,513.000 USD th for Feb 2025. South Korea Exports: Europe: EU (28) data is updated monthly, averaging 4,219,918.000 USD th from Jan 2000 (Median) to Mar 2025, with 303 observations. The data reached an all-time high of 6,944,221.000 USD th in Mar 2022 and a record low of 1,587,088.000 USD th in Jul 2001. South Korea Exports: Europe: EU (28) data remains active status in CEIC and is reported by Korea Customs Service. The data is categorized under Global Database’s South Korea – Table KR.JA007: Trade Statistics: Export: Value: by Country. Figures represent the trade statistics of Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom, regardless of their entry or exit dates in the European Union.