Europe Trade, Exports and Imports

By: EconomyWatch Content   Date: 9 April 2010

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The European Union, in a bid to encourage interstate dependency and trading relationships, has abolished all forms of tariffs on trading and adopted a common currency. The move has definitely made this strong economic region even stronger. Such policies have resulted in Europe’s trade running smoothly internally and internationally.

 

In figures, European trade is the biggest in the world and is the source of all major heavy engineering products. Led by nations such as Germany, Italy, the UK and France, Europe’s trade is dominated by reliable automobiles and heavy machinery.

Europe Trade, Exports and Imports

Europe’s exports were reported at $1.952 trillion in 2007 and the continent ranked first across the globe in terms of export volumes. This volume has witnessed a positive increase ever since the currency was standardized.

 

The main commodities exported were:

  • Machinery

  • Motor vehicles

  • Aircraft

  • Plastics

  • Pharmaceuticals and other chemicals

  • Fuels

  • Iron and steel

  • Nonferrous metals

  • Wood pulp and paper products

  • Textiles

  • Meat

  • Dairy products

  • Fish

  • Alcoholic beverages

 

European imports were recorded at $1.69 trillion and the continent ranked first in terms of import volume as well.

 

The main commodities imported were:

  • Machinery

  • Vehicles

  • Aircraft

  • Plastics

  • Crude oil

  • Chemicals

  • Textiles

  • Metals

  • Foodstuffs

  • Clothing 

Here is the list of commodities that the various countries of the European Union manufacture and export:

 

  • Automobiles - France, Italy, UK, Germany, Czech Republic, Spain

  • Fashion- Italy and France and other western European countries

  • Aircraft- France and Germany

  • Machinery- The entire continent

  • Electronics- Italy, The Netherlands, Germany

  • Food products such as wine, beer, cheeses, chocolates- Western Europe

  • Pharmaceuticals- Switzerland

  • Military equipment- UK, France, Italy, Germany, Russia

  • Industrial chemicals- Most countries

 

Germany remains the largest player in terms of European trade, while the UK remains a financial hub for most activities in Europe. 


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