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The export trade of the European Union experienced some notable shifts over the two decades since 2002, with China emerging as a significant export market and the United Kingdom losing its place as the EU's single largest export partner.

The United Kingdom's declining share of EU exports

The UK, which was a member of the European Union until 2020, declined in its importance as an export market for EU producers over this period. Representing over a fifth of the export trade in 2002, the UK now takes only 13 percent of EU exports, and looks likely to be eclipsed by China's growing share in the coming years. The complications to EU-UK trade caused by the UK's exit agreement with the EU is also likely to contribute to slowing trade flows between the two partners.

China's emergence as a key export market

As with most other areas of the global economy, the past two decades has largely been the story of China's emergence as a key trading partner. China's share of EU exports was comparable to Japan or Norway at the beginning of the period, while it now represents the EU's third largest export market. While this is a significant change, China takes up a much larger share of imports into the EU, where it is the largest single trading partner. As Chinese incomes rise in the coming decades, the significance of China as an export market for EU producers is likely to rise, geopolitical tension notwithstanding.

The Euro and exports to the U.S.

The EU's export trade with the United States over this period experienced a relative decline in the period running up to 2014, as the Euro appreciated in its value against the U.S. dollar, making European exports more expensive for Americans. This declining share of the EU's export trade taken by the U.S. was reversed in the latter half of the 2010s however, as the Euro depreciated and European exports to the U.S. increased.

Issues with Russia

Another notable trend over the period was Russia's emergence as a key export market in the mid-2000s, as the Russian economy grew quickly and Russian consumers began to demand EU made products. Russia declined as a market for EU exports after 2014, as trade was complicated by Russia's illegal annexation of Crimea from Ukraine, and the subsequent devaluation of the Ruble and collapse in the price of Ural crude oil.

Annual share of exports from the European Union to non-EU countries by trading partner from 2002 to 2023

Characteristic	Rest of world	United States	United Kingdom	China	Switzerland	Turkey
2023	43.9%	19.6%	13.1%	8.7%	7.4%	4.4%
2022	44.3%	19.8%	12.8%	9%	7.3%	3.9%
2021	45.8%	18.3%	13%	10.2%	7.2%	3.6%
2020	43.5%	18.3%	14.4%	10.5%	7.4%	3.6%
2019	44.2%	18%	15%	9.3%	6.9%	3.2%
2018	45.3%	17.1%	15.5%	9.1%	6.5%	3.4%
2017	45.8%	16.3%	16.1%	9%	6.6%	3.8%
2016	45.6%	16.5%	16.9%	8.2%	6.7%	3.9%
2015	45.5%	16.6%	16.9%	7.8%	6.5%	4%
2014	48.4%	14.8%	16.2%	8.1%	6.4%	3.9%
2013	50%	13.8%	15.4%	7.6%	6.6%	4.1%
2012	49.8%	14%	15.2%	7.5%	6.9%	4%
2011	49.4%	13.7%	15.5%	7.8%	7.1%	4.2%
2010	49.5%	14.1%	16%	7.3%	6.9%	4.1%
2009	49.1%	14.3%	17.2%	6.5%	7.1%	3.5%
2008	49.4%	14.6%	17.9%	5.1%	6.5%	3.6%
2007	47.4%	15.9%	19.3%	4.9%	6.4%	3.6%
2006	45.6%	17.6%	19.6%	4.7%	6.5%	3.7%
2005	44.3%	18.2%	20.2%	4.2%	6.5%	3.6%
2004	42.8%	18.4%	21.7%	4.2%	6.7%	3.5%
2003	41.4%	19.3%	22.3%	4%	7%	2.9%
2002	41.4%	20.4%	22.8%	3.3%	6.8%	2.4%

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Release date

April 2024

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Region

Europe, EU

Survey time period

2002 to 2023

Supplementary notes

Totals may not reach 100 percent due to rounding.

*China excluding Hong Kong.

**United Kingdom was a member of the European Union until 2020. In this series it has been retroactively treated as if it were a non-EU member state in all years preceding 2020.

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