This is a best prospect industry sector for this country. Includes a market overview and trade data.
Last Published: 7/3/2018
U.S. Government engagement in such sectors as automotive (e-vehicles), chemicals, energy and environment (smart grids, renewables, LNG), health and medical technologies, manufacturing (advanced manufacturing, additive manufacturing, advanced materials), digital, and information and communications technology will continue to contribute towards U.S. businesses growth and job creation.
 
The Department of Commerce and the Commercial Service European Union office (CSEU) continue to be a major force, supporting and protecting U.S. commercial interests by:  counseling U.S. firms on EU market entry requirements, standards, and legislation; monitoring legislative developments that may impact U.S. commercial interests; and advocating on behalf of U.S. companies to ensure that the EU remains open to U.S. commercial activity.
 
The CSEU works to resolve market access barriers that impede U.S. commercial activities in Europe assists companies/industries experiencing with specific issues, identifies and works to reduce technical barriers to trade such as technical and standards regulations, product standards and testing, and certification procedures that hamper U.S. exports.
 
Overview
Unit: USD millions 2016 20172018
(estimates)
GDP (nominal) 16,509 ^^ 17,309 ^^19,670
Total EU Exports to the world 1,942.6 **   2,137.4 ** 1,286.5 *^
Total EU Imports from the world 1,889.8 ** 2,103 ** 2,337.9 *^
Import of goods from the U.S.  271,084 *** 284,710 *** 312,332 *
Export of goods to the U.S.  419,087 *** 437,711 *** 463,568 *
Exchange Rate (Euro Zone) : 1 Euro ^ $1.1069 ^  $1.1297 ^ $1.23^
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unit: USD millions
Data Sources:
* U.S. Census Bureau only 3 months of data available; Figures are a straight avg. over 12-months (U.S. Trade Online)
** Global Trade Atlas, U.S. Department of Commerce Bureau of Economic Analysis
*** U.S. Bureau of Economic Analysis- International Data
*^ Eurostat only 2 months of data available; Figures are a straight avg. over 12-months; converted from euros to USD using  2018 exchange rate estimate
^ Eurostat- Exchange Rates
^^ International Monetary Fund, World Economic Outlook Database, 2016
^^^ March 2017 ECB staff macroeconomic projections for the euro area. European Central Bank; Eurosystem
 
Principal U.S. Exports to European Union in 2017:
  • Machinery 20.78%)
  • Pharmaceutical Products (10.72%)
  • Aircraft, Spacecraft & Parts 10.42%)
  • LNG
  • Optical, Medical Instruments (8.67%)
  • Electrical Machinery (7.32%)
  • Mineral Fuel, Oil, including LNG (5.97%)1
Note:  Services exports were valued at $239 Billion***
  1. LNG increased from .3% of this category exported to the EU in 2016 to 2% of this category in 2017
Principal U.S. Imports from European Union in 2017:
  • Machinery (17.97%)
  • Vehicles (13.33%)
  • Pharmaceutical Products (12.81%)
  • Optical, Medical Instruments (7.49%)
  • Electrical Machinery (7.44%)
  • Aircraft, Spacecraft & Parts (4.64%)
  • Organic Chemicals (4.49%)
 
Note:  Services imports were valued at $189 Billion***
 
Source: Global Trade Atlas, U.S. Department of Commerce Bureau of Economic Analysis
 
Web Resources
European Commission, Directorate-General for Trade, EU-U.S. trade factsheet
 

 

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.



European Union 28 Industry Taxonomy Trade Development and Promotion