The United States and the 28 Member States of the European Union (EU) enjoy a longstanding and strong economic relationship. U.S. exports of goods and services to the EU-28 in 2016 reached approximately $503 billion and imports from the EU, $596 billion. Here are some more facts & figures on the European industry:
- The value of European industrial production amounted to EUR 4 975 billion in 2016. Figure 1 presents the evolution of the EU-28’s value of sold production from 2008 to 2016.
- Almost two thirds of the European industrial production is generated by six EU Member States: with Germany (22%) making the largest contribution, followed by Italy (13%), France (10%), the UK (7%), Spain (6%) and Poland (4%). See figure 2.
- The EU is a world leader in many industrial sectors, such as pharmaceuticals, chemicals and mechanical engineering.
- The European industry is undergoing a deep transformation: new technologies, the need for greater resource efficiency, new business models, and a greater consumer demand for manufacturing activities being bundled with services.
Interested in growing your business in Europe and looking for more detailed facts & figures on your target markets? Feel free to contact Edward Nijland and we can schedule a call to discuss your opportunities.