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’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:
Pharmaceuticals and other chemicals
Iron and steel
Wood pulp and paper products
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:
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
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.