This is a best prospect industry sector for this country. Includes a market overview and trade data.
Last Published: 7/19/2017

U.S. Government engagement in such sectors as automotive (e-vehicles), chemicals, energy and environment (smart grids, renewables), 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, focusing its work on 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 millions2015 2016  2017 (estimate)
GDP (nominal)16,220 ^^ 16,477 ^^ 17,094 ^^
Total EU Exports to the world1,983.9 ** 1,930.9 **   1,987.0 *^
Total EU Imports from the world1,918.9 **  1,889.8 ** 1,960.2 *^
Import of goods from the U.S. 273,916 *** 271,663 *** 282,627 *
Export of goods to the U.S. 430,865 *** 419,453 *** 435,192 *
Exchange Rate (Euro Zone): 1 Euro ^$1.1095 ^ $1.1069 ^  $1.0628 ^


















 

Data Sources:
* U.S. Census Bureau only 2 months of data available; Figures are a straight avg. over 12-months.
** Global Trade Atlas, U.S. Department of Commerce Bureau of Economic Analysis
*** U.S. Bureau of Economic Analysis- International Data
*^ Eurostat only 1 month of data available; Figures are a straight avg. over 12-months; converted from euros to USD using  2017 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 2016:
Machinery (19.84%)
Aircraft, Spacecraft & Parts (11.60%)
Pharmaceutical Products (11.49%)
Optical, Medical Instruments (9.17%)
Electrical Machinery (7.49%)
Vehicles (1.08%)
 
Principal U.S. Imports from European Union in 2016:
Machinery (17.19%)
Vehicles (13.51%)
Pharmaceutical Products (12.92%)
Electrical Machinery (7.58%)
Optical, Medical Instruments (7.30%)
Organic Chemicals (5.71%)
 
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 All Trade Development and Promotion