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Facts and figures on EU trade

November 12, 2014 3:20 PM
By European Movement

EU is the largest economy in world, worth £11 trillion. The USA is worth £10.3tn trillion, China £5.4 trillion and Japan 2.7 trillion.

Nearly 34% of world trade originates in Europe. This trade is worth around $US 5.5tn annually.

The value of European exports of cars is nearly 50% of the total value of exports of cars globally.

The value of European exports of pharma is 70% of the value of pharma exports globally.

The value of European exports of aircraft and satellites is nearly 70% of the global value of aircraft and satellites.

28 of Forbes' top 100 companies are headquartered in the EU.

EU is top trading partner for 80 countries. By comparison, the US is the top trading partner for a little over 20 countries.

More than 70% of imports enter the Single Market at zero or reduced tariffs.

The EU-US trade deal is expected to generate €80 billion worth of benefits for the EU and create 2 million jobs.

EU-South Korea FTA saves EU exporters £1.35 billion annually in tariffs.

It creates €19 billion in new trade.

UK companies alone benefit by £500 million per year.

Completing FTAs with India, Canada, Singapore could add up to £75 billion to the EU's GDP.

50% of foreign direct investment to the UK comes from other EU member states, and is worth £351 billion a year.

Over 40% of UK exports go to the EU and they are tariff-free.

76% of the UK's food exports go to other EU Member States.

Over 300,000 UK companies operate in the EU.

51% of UK car and commercial vehicle exports in 2012 went to the EU.

Outside of the EU car exports will have to suffer 10% tariff and van exports a 20% tariff. That will have an impact on the investment decisions of manufacturers like Honda.

40% of firms surveyed by TheCityUK said that Britain's membership of the EU was a core reason why they set up their business in London.

The European Movement UK is Britain's longest standing pro-European organization, campaigning for decades to inform the debate around the benefits of EU membership. We are a not-for-profit, non-governmental organization, funded exclusively by our members. Visit www.euromove.org.uk to see how you can join us and help keep Britain in the EU.