Data from April 2025.
Planned article update: April 2026.
Highlights
In 2024, the euro area recorded a trade surplus of €173 billion.
Euro area trade with countries outside the Euro area increased between 2014 and 2024 with an average annual growth of 4.2% with imports (4.4%) growing faster than exports (4.0%).
The main products traded by the euro area in 2024 were machinery and vehicles.
Euro area trade, 2012-2024
The aim of this article is to provide an overview of the main characteristics of the extra-euro area trade in goods. All the series have been recalculated to include all the 20 members of the euro area in 2024.
This article is part of an online publication providing recent statistics on international trade in goods, covering information on the EU's main partners, main products traded, specific characteristics of trade as well as background information.
Increase in extra-euro area trade
Between 2014 and 2024 there was an increase in both extra-euro area imports of goods (from €1 747 billion to €2 689 billion) and exports of goods (from €1 893 billion to €2 862 billion) - see Figure 1. This development decreased the trade in goods surplus of €180 billion in 2014 to €173 billion in 2024.
In 2024, contrary to the previous year, exports increased by 0.5% while imports fell 3.6%. Coming out of the COVID-19 slump, growth had been strong in 2021 with exports growing by 14.3% and imports by 22.3%. In 2022, driven by rising prices, growth was even higher, with exports growing by 18.2% and imports by 38.0% but in 2023 both imports (-13%) and exports (-0.8%) fell. In the period 2014-2024 euro area imports had an average annual growth of 4.4% and exports grew by 4.0% annually.
Main partners for extra-euro area trade
The share of euro area imports of goods from EU countries outside the euro area increased by 3.9 percentage points (pp) between 2014 and 2024. In the same period China's share increased by 3.1 pp while the share of the United Kingdom decreased by 3.7 pp.
The share of euro area exports of goods to EU countries outside the euro area increased by 3.5 pp between 2014 and 2024. In the same period the share of the United States increased by 4.3 pp, while the share of the United Kingdom decreased by 3.0 pp.
Intra- and extra-euro area trade in goods by EU countries
The share of intra-euro area imports varies greatly across members of the euro area. In 2024, it was above 60% in Luxembourg, Portugal, Austria, Estonia, Latvia and Croatia and below 40% in Ireland, the Netherlands and Slovenia. The high share of Luxembourg is explained by it being surrounded by euro area partners. Ireland's main trading partners are the United Kingdom and the United States while the Netherlands high share is due to the presence of the large port of Rotterdam.
In 2024, Luxembourg and Portugal also had shares above 60% for intra-euro area exports of goods. Finland, Germany, Ireland and Cyprus all had shares below 40%.
Extra-euro area trade in goods by EU countries
In 2024, the 4 largest importers of goods in the euro area accounted for two-thirds of all extra-EU imports. Germany accounted for 26.7% of imports, followed by the Netherlands (18.1%), France (11.3%) and Italy (11.0%).
The same 4 countries were also the largest exporters, accounting for 70% of extra-euro area exports. Germany accounted for 33.7% of exports, followed by Italy (12.7%), the Netherlands (12.3%) and France (11.0%).
Germany also had the largest trade surplus (€246 billion) with extra-euro area countries. It was one of 9 countries with a trade surplus. Eleven countries had a trade deficit for extra-euro area trade which was highest in the Netherlands (€134 billion).
Machinery and vehicles dominate extra-euro area trade
By far the largest trade group for both extra euro area imports and exports was 'machinery and vehicles', with a trade value in 2024 of €2 063 billion. Of this, €1 119 billion were exports, representing 39% of the value of all extra-euro area exports in 2024. Imports of 'machinery and vehicles' amounted to €945 billion which was 35% of total euro area imports. Compared with 2023, exports of 'machinery and vehicles' were down €29 billion and imports were down €38 billion. Consequently, the trade surplus for 'machinery and vehicles' increased from €166 billion in 2023 to €174 billion in 2024 (Figure 9).
In 2024, the second largest product group for both extra euro area imports and exports was 'other manufactured goods', for which total trade amounted to €1 292 billion. Of this, €648 billion were exports, representing 23% of all extra-euro area exports. Imports of 'other manufactured goods' stood at €645 billion in 2024 which was 24% of all extra-euro area imports. Compared with 2023, exports were up by €2 billion and imports were down by €3 billion. Consequently, the trade balance for 'other manufactured goods' went from a deficit of €2 billion in 2023 to a surplus of €3 billion in 2024.
In 2024, the euro area also had trade surpluses in 'chemicals' (€174 billion), 'food and drink' (€38 billion) and 'other goods' (€21 billion) while having trade deficits in 'energy products' (€290 billion) and 'raw materials' (€31 billion).
Source data for tables and graphs
Data sources
Euro area data come from Eurostat's COMEXT database. COMEXT is the Eurostat reference database for international trade. It provides access not only to both recent and historical data from the EU Member States but also to statistics of a significant number of non-EU member countries. International trade aggregated and detailed statistics disseminated from Eurostat website are compiled from COMEXT data according to a monthly process. Because COMEXT is updated on a daily basis, data published on the website may differ from data stored in COMEXT in case of recent revisions.
Euro area data are compiled according to community guidelines and may, therefore, differ from national data published by EU Member States. Statistics on extra-euro area trade are calculated as the sum of trade of each of the nineteen members with countries outside the euro area. In other words, the euro area is considered as a single trading entity and trade flows are measured into and out of the area, but not among euro are members.
Among the euro area partners in this article there are countries belonging to the EU in the years mentioned such as Czechia, Hungary, Poland, Sweden and the United Kingdom (until February 2020) and partners outside the EU (United States, China, Switzerland, Russia and Türkiye). The statistical concepts applicable to these two group of partners is different. Imports from non-EU trade partners are grouped by country of origin where imports from EU partners reflect the country of consignment. In practice this means that the goods imported from EU partners were physically transported from those countries, but part of these goods could have been of another origin. For this reason data on trade for these two groups are not fully comparable.
Unit of measurement Trade values are expressed in billion (109) of euros. They correspond to the statistical value, i.e. to the amount which would be invoiced in case of sale or purchase at the national border of the reporting country. It is called a FOB value (free on board) for exports and a CIF value (cost, insurance, freight) for imports.
Context
The euro area is a large and open trading bloc. This makes doing business in euro an attractive proposition for other trading nations, which can access a large market using one currency. Euro area companies also benefit because they can export and import in the global economy while paying, and being paid, in euro, reducing the risk of losses caused by global currency fluctuations.