The European Union is the second largest economy in the world in nominal terms (after the United States) and according to purchasing power parity or PPP (after China). The European Union's GDP was estimated to be $18.8 trillion (nominal) in 2018, representing ~22% of global economy (Nominal global GDP).
The euro, used by 19 of its 28 members, is the second largest reserve currency as well as the second most traded currency in the world after the United States dollar. The euro is the official currency in 25 countries, in the eurozone and in six other European countries, officially or de facto.
The European Union (EU) economy consists of an internal market of mixed economies based on free market and advanced social models. The GDP per capita (PPP) was $37,800 in 2017, compared to $59,495 in the United States, $42,695 Japan and $16,636 in China. There are significant disparities in GDP per capita (PPP) between member states ranging from $105,148 in Luxembourg to $21,678 in Bulgaria. With a low Gini coefficient of 31, the European Union has a more egalitarian repartition of incomes than the world average.
Major economic hubs and financial centres where the large number of institutions, companies and banks is located are Amsterdam, Brussels, Bucharest, Dublin, Frankfurt, Göteborg, Helsinki, Lisbon, London, Madrid, Milan, Paris and Warsaw.
Euronext is the main stock exchange of the Eurozone and the 7th world largest by market capitalisation. Foreign investments made in the European Union total $5.1 trillion in 2012, while the EU's investments in foreign countries total $9.1 trillion, by far the highest domestic and foreign investments in the world.
Since the beginning of the public debt crisis in 2009, opposite economic situations have emerged between Southern Europe on one hand, and Central and Northern Europe on the other hand: a higher unemployment rate and public debt in the Mediterranean countries with the exception of Malta, and a lower unemployment rate with higher GDP growth rate in the Eastern and in Northern member countries. In 2015, public debt in the European Union was 85% of GDP, with disparities between the lowest rate, Estonia with 9.7%, and the highest, Greece with 176%.
The ten largest trading partners of the European Union are the United States, China, Switzerland, Russia, Turkey, Japan, Norway, South Korea and India (trade with all these countries crossed $110 billion mark in 2016). The EU is represented as a unified entity in the World Trade Organization (WTO), the G-20 and G7, alongside with the EU's member countries participating.
|Economy of the European Union|
|Currency||Euro (€) (EUR) = 1.15 USD|
and 10 others
|WTO, G20, G7 and others|
|GDP||$19.1 trillion (nominal; 2019)|
$23.0 trillion (PPP; 2019)
GDP per capita
|$38,370 (nominal; 2018)|
$43,119 (PPP; 2018)
GDP by sector
Services: 70.7% (2016 est.)
|1.5% (September 2017)|
Population below poverty line
|0.899 (very high)|
|238 million (2017 est.)|
21 million unemployed (2016)
Labour force by occupation
Services: 73.1% (2014 est.)
|Unemployment||6.7% (October 2018)|
Average gross salary
|€35,000 (~US$40,000), annual (2015)|
|€24,000 (~US$27,000), annual (2015)|
|Exports||$1.9 trillion (2015 est.)|
|machinery, motor vehicles, pharmaceuticals and other chemicals, fuels, aircraft, plastics, iron and steel, wood pulp and paper products, alcoholic beverages, furniture|
Main export partners
|Imports||$1.7 trillion (2015 est.)|
|fuels and crude oil, machinery, vehicles, pharmaceuticals and other chemicals, precious gemstones, textiles, aircraft, plastics, metals, ships|
Main import partners
|€4 trillion (inward, 2012) |
€5.2 trillion (outward, 2012)
|€161.6 billion; 1.1% of GDP (2015)|
Gross external debt
|$13.05 trillion (31 December 2014 est.)|
|−€2,557.4 billion; 17.5% of GDP (2015)|
|83.2% of GDP (2016)|
|Revenues||44.9% of GDP (2016)|
|Expenses||47.4% of GDP (2015)|
|Economic aid||donor: ODA, $87.64 billion|
|$0.6 trillion (2010)|
Beginning in the year 1999 with some EU member states, now 19 out of 28 EU states use the euro as official currency in a currency union. The remaining 9 states continued to use their own currency with the possibility to join the euro later. The euro is also the most widely used currency in the EU.
Since 1992 the Maastricht treaty sets out rigid economic and fiscal convergence criteria for the states joining the euro. Starting 1997, the Stability and Growth Pact has been started to ensure continuing economic and fiscal stability and convergence.
Denmark and the United Kingdom, not members of the eurozone, have special opt-outs concerning the later joining of the euro. Also, Sweden can effectively opt out by choosing when or whether to join the European Exchange Rate Mechanism, which is the preliminary step towards joining. The remaining states are committed to join the euro through their Treaties of Accession.
Starting with Greece in 2009, five of the 19 eurozone states have been struggling with a sovereign debt crisis, by many called the European debt crisis. All these states started reforms and got bailout packages (Greece, Ireland, Portugal, Spain, Cyprus). As of 2015, all countries but Greece have recovered from their debt crisis. Other non-eurozone states also experienced a debt crisis and also went through successful bailout programmes, i.e. Hungary, Romania and Latvia (the latter before it joined the eurozone).
The operation of the EU has an agreed budget of €141 billion for the year 2011, and €862 billion for the period 2007–2013, this represents around 1% of the EU's GDP.
The services sector is by far the most important sector in the European Union, making up 74.7% of GDP, compared to the manufacturing industry with 23.8% of GDP and agriculture with only 1.5% of GDP.
Financial services are well developed within the Single Market of the Union. Companies have a greater reliance on bank lending than in the United States, although a shift towards companies raising more funding through capital markets is planned through the Capital Markets Union initiative, the EU plan put forward by the Commission in September 2015 to mobilise the free movement of capital within the EU. The plan aims "to establish the building blocks of an integrated capital market in the EU by 2019". The CMU initiative comprises 33 measures in all. The plan was updated in June 2017. The Commissioner for Financial Stability, Financial Services and Capital Markets Union, Valdis Dombrovskis, former Prime Minister of Latvia, is responsible for delivery of the initiative.
Many EU cities are financial centres; financial institutions and companies located in the United Kingdom, especially, provide significant financial services to companies located within the EU. For example, UK-located banks underwrite around half of the debt and equity issued by EU companies, UK-located banks are counterparty to over half of the over-the-counter (OTC) interest rate derivatives traded by companies and banks in the EU, and 30 million EEA policyholders are insured through an insurer based in the UK. Central counterparties (CCPs) located in the UK provide services to EU clients in a range of markets and asset managers operating in the UK account for 37% of all assets managed across Europe. According to the Global Financial Centres Index, after the United Kingdom leaves the EU in March 2019, the two largest financial centres in Europe, London and Zurich, will be outside the European Union. The two largest financial centres remaining within the EU will then be Frankfurt and Luxembourg City.
London is also a leading international centre for professional services which are sold to clients across the EU.
The agricultural sector is supported by subsidies from the European Union in the form of the Common Agricultural Policy (CAP). In 2013 this represented approximately €45billion (less than 33% of the overall budget of €148billion) of the EU's total spending. It was used originally to guarantee a minimum price for farmers in the EU. This is criticised as a form of protectionism, inhibiting trade, and damaging developing countries; one of the most vocal opponents is the UK, the second largest economy within the bloc, which has repeatedly refused to give up the annual UK rebate unless the CAP undergoes significant reform; France, the biggest beneficiary of the CAP and the bloc's third largest economy, is its most vocal proponent. The CAP is however witnessing substantial reform. In 1985, around 70% of the EU budget was spent on agriculture. In 2011, direct aid to farmers and market-related expenditure amount to just 30% of the budget, and rural development spending to 11%. By 2011, 90% of direct support had become non-trade-distorting (not linked to production) as reforms have continued to be made to the CAP, its funding and its design.
The European Union is a major tourist destination, attracting visitors from outside of the Union and citizens travelling inside it. Internal tourism is made more convenient by the Schengen treaty and the euro. All citizens of the European Union are entitled to travel to any member state without the need of a visa.
France is the world's number one tourist destination for international visitors, followed by Spain, Italy, the United Kingdom and Germany. It is worth noting, however, that a significant proportion of international visitors to EU countries are from other member states.
London, the capital of the United Kingdom, is also the world's most visited city (16.9 million visitors in 2012), and the highest in tourism receipts. It is followed by Paris, with 16 million visitors.
The European Union has uranium, coal, oil, and natural gas reserves. There are six oil producers in the European Union, primarily in North Sea oilfields. The United Kingdom is by far the largest producer; Denmark, Germany, Italy, Romania and the Netherlands all produce oil. If it is treated as a single unit, which is not conventional in the oil markets, the European Union is the 19th largest producer of oil in the world, producing 1,241,370 (2013) barrels a day.
It is the world's second largest consumer of oil, consuming much more than it can produce, at 12,790,000 (2013) barrels a day. Much of the difference comes from Russia and the Caspian Sea basin. All countries in the EU have committed to the Kyoto Protocol, and the European Union is one of its biggest proponents. The European Commission published proposals for the first comprehensive EU energy policy on 10 January 2007.
The European Union's member states are the birthplace of many of the world's largest leading multinational companies, and home to its global headquarters. Among these are distinguished companies ranked first in the world within their industry/sector, like Allianz, which is the largest financial service provider in the world by revenue; WPP plc which is the world's largest advertising agency by revenue; Amorim, which is the world's largest cork-processing and cork producer company; ArcelorMittal, which is the largest steel company in the world; Inditex which is the biggest fashion group in the world; Groupe Danone, which has the world leadership in the dairy products market.
Anheuser-Busch InBev is the largest beer company in the world; L'Oréal Group, which is the world's largest cosmetics and beauty company; LVMH, which is the world's largest luxury goods conglomerate; Nokia Corporation, which was the world's largest manufacturer of mobile telephones; Royal Dutch Shell, which is one of the largest energy corporations in the world; and Stora Enso, which is the world's largest pulp and paper manufacturer in terms of production capacity, in terms of banking and finance the EU has some of the worlds largest notably HSBC and Grupo Santander, the largest bank in Europe in terms of Market Capitalisation.
Many other European companies rank among the world's largest companies in terms of turnover, profit, market share, number of employees or other major indicators. A considerable number of EU-based companies are ranked among the worlds' top-ten within their sector of activity. Europe is also home to many prestigious car companies such as Aston Martin, BMW, Ferrari, Jaguar, Lamborghini, Land Rover, Maserati, Mercedes-Benz, Porsche, as well as volume manufacturers such as Dacia, Citroen, Fiat, Opel, Peugeot, Renault, Seat, Volkswagen, Volvo and more.
|Rank||Corporation||Stock ticker||Revenue $ millions||Profit $ millions||Employees||Headquarters||Industry|
|1||Royal Dutch Shell||RDS.A||272,156||1,939||90,000||Shell Centre, London, UK, and The Hague, Netherlands||Energy|
|2||Volkswagen||VLKAY||236,600||-1,520||610,076||Wolfsburg, Germany||Motor Vehicles & Parts|
|3||BP PLC||BP.L||183,000||4,100||74,500||London, UK||Energy|
|4||Daimler||DDAIY||165,800||9,345||284,015||Stuttgart, Germany||Motor Vehicles & Parts|
|5||EXOR Group||EXOSF||152,591||825||303,247||Turin, Italy||Financials|
|10||BNP Paribas||BNPQY||111,531||7,426||181,551||Paris, France||Financials|
The twelve new member states of the European Union have enjoyed a higher average percentage growth rate than their elder members of the EU. Slovakia has the highest GDP growth in the period 2005–2015 among all countries of the European Union (See Tatra Tiger). Notably the Baltic states have achieved high GDP growth, with Latvia topping 11%, close to China, the world leader at 9% on average for the past 25 years (though these gains have been in great part cancelled by the late-2000s recession).
Reasons for this growth include government commitments to stable monetary policy, export-oriented trade policies, low flat-tax rates and the utilisation of relatively cheap labour. In 2015 Ireland had the highest GDP growth of all the states in EU (25.1%). The current map of EU growth is one of huge regional variation, with the larger economies suffering from stagnant growth and the new nations enjoying sustained, robust economic growth.
Although EU28 GDP is on the increase, the percentage of gross world product is decreasing because of the emergence of economies such as China, India and Brazil.
|Member state||2012||2013||2014||2015||2016||2017||2018||Yearly Growth
The EU seasonally adjusted unemployment rate was 6.7% in September 2018. The euro area unemployment rate was 8.1%. Among the member states, the lowest unemployment rates were recorded in the Czech Republic (2.3%), Germany and Poland (both 3.4%), and the highest in Spain (14.9%) and Greece (19.0 in July 2018).
The following table shows the history of the unemployment rate for all European Union member states :
The European Union is the largest exporter in the world and as of 2008 the largest importer of goods and services. Internal trade between the member states is aided by the removal of barriers to trade such as tariffs and border controls. In the eurozone, trade is helped by not having any currency differences to deal with amongst most members.
The European Union Association Agreement does something similar for a much larger range of countries, partly as a so-called soft approach ('a carrot instead of a stick') to influence the politics in those countries. The European Union represents all its members at the World Trade Organization (WTO), and acts on behalf of member states in any disputes. When the EU negotiates trade related agreement outside the WTO framework, the subsequent agreement must be approved by each individual EU member state government.
|Rank||Partners||Imports (million euro)||% (of total)||Exports (million euro)||% (of total)||Total trade (million euro)||% (of total)|
|12||United Arab Emirates||9,201||0,5%||45,847||2,6%||55,048||1,6%|
|Trade with partner country groupings (2012)|
|Sources: Eurostat [ext_lt_intertrd]|
Comparing the richest areas of the EU can be a difficult task. This is because the NUTS 1 & 2 regions are not homogenous, some of them being very large regions, such as NUTS-1 Hesse (21,100 km²) or NUTS-1 Île-de-France (12,011 km²), whilst other NUTS regions are much smaller, for example NUTS-1 Hamburg (755 km²) or NUTS-1 Greater London (1,580 km²). An extreme example is Finland, which is divided for historical reasons into mainland Finland with 5.3 million inhabitants and Åland, an autonomous archipelago with a population of 27,000, or about the population of a small Finnish city.
One problem with this data is that some areas, including Greater London, are subject to a large number of commuters coming into the area, thereby artificially inflating the figures. It has the effect of raising GDP but not altering the number of people living in the area, inflating the GDP per capita figure. Similar problems can be produced by a large number of tourists visiting the area. The data is used to define regions that are supported with financial aid in programs such as the European Regional Development Fund. The decision to delineate a Nomenclature of Territorial Units for Statistics (NUTS) region is to a large extent arbitrary (i.e. not based on objective and uniform criteria across Europe), and is decided at European level (See also: Regions of the European Union).
The 10 NUTS-1 and NUTS-2 regions with the highest GDP per capita are almost all, except two, in the first fifteen-member states: Prague and Bratislava are the only ones in the 13 new member states that joined in May 2004, January 2007 and July 2013. The leading regions in the ranking of NUTS-2 regional GDP per inhabitant in 2016 were Inner London-West in the United Kingdom (626% of the average), the Grand Duchy of Luxembourg (253%) and Southern and Eastern Ireland (220%). Figures for these three regions, however, are artificially inflated by the commuters who do not reside in these regions ("Net commuter inflows in these regions push up production to a level that could not be achieved by the resident active population on its own. The result is that GDP per inhabitant appears to be overestimated in these regions and underestimated in regions with commuter outflows.").
Another example of artificial inflation is Groningen. The calculated GDP per capita is very high because of the large natural gas reserves in this region, but Groningen is one of the poorest parts in the Netherlands. Among the 21 NUTS-2 regions exceeding the 150% level, five were in Germany, two in each Ireland, Austria, the Netherlands and the United Kingdom and one each in Belgium, Czechia, Denmark, France, Slowakia, Poland and Sweden, as well as in the single region Grand Duchy of Luxembourg. The NUTS Regulation lays down a minimum population size of 3 million and a maximum size of 7 million for the average NUTS-1 region, whereas a minimum of 800,000 and a maximum of 3 million for NUTS-2 regions.¹ This definition, however, is not respected by Eurostat. E.g.: the région of Île-de-France, with 11.6 million inhabitants, is treated as a NUTS-2 region, while the state Free Hanseatic City of Bremen, with only 664,000 inhabitants, is treated as a NUTS-1 region.
Among the ten lowest regions in the ranking in 2017 most were in Bulgaria, with the lowest figure recorded in Severozapaden. Among the 20 regions below the 50% level, five were in Bulgaria, four each in Greece and Hungary, three in Poland and two each in France and Romania.
Regarding Capital Markets Union, the European Commission's plan to improve access to non-bank financing across the EU, he said the "departure of the UK makes this project even more important and even more urgent. It will have to compensate for the EU's largest financial centre not being in the EU and not being in the single market any more"
The UK’s financial sector also brings substantial benefits to EU households and firms, allowing them to access a broad range of services efficiently and reliably.
The following links are used for the GDP growth and GDP totals (IMF):
For a broader view of policy responses to the global economic slowdown, see 2008–09 Keynesian resurgence.On 26 November 2008, the European Commission proposed a European stimulus plan (also referred to as the European Economic Recovery Plan) amounting to 200 billion euros to cope with the effects of the global financial crisis on the economies of the members countries. It aims at limiting the economic slowdown of the economies through national economic policies, with measures extended over a period of two years.2010 European Union bank stress test
A European Union-wide banking stress test exercise has been conducted by the Committee of European Banking Supervisors every year since 2009. The second instance was performed in July 2010. The Council of the European Union (in its economic and financial – ECOFIN – configuration) mandated that Committee so to do, in the aftermath of the global financial crisis which started in 2007.Butter mountain
The butter mountain refers to a supply surplus of butter produced in the European Economic Community due to government interventionism, beginning in the 1970s. The size of the surplus changed significantly over time, and had mostly disappeared by 2017.Currencies of the European Union
There are eleven currencies of the European Union as of 2018 used officially by member states. The euro accounts for the majority of the member states with the remainder operating independent monetary policies. Those European Union states that have adopted it are known as the eurozone and share the European Central Bank (ECB). The ECB and the national central banks of all EU countries, including those who operate an independent currency, are part of the European System of Central Banks.Euro-Mediterranean free trade area
The European Union-Mediterranean Free Trade Area (EU-MED FTA, EMFTA), also called the Euro-Mediterranean Free Trade Area or Euromed FTA, is based on the Barcelona Process and European Neighbourhood Policy (ENP). The Barcelona Process, developed after the Barcelona Conference in successive annual meetings, is a set of goals designed to lead to a free trade area in the Mediterranean Region and the Middle East by 2010.
A Regional Convention on pan-Euro-Mediterranean preferential Rules of Origin was signed in June 2011 to allow identical rules of origin across the region.
The convention was in force from May 2012 and is the last step taken in the Barcelona Process so far.Euro sign
The euro sign (€) is the currency sign used for the euro, the official currency of the European Union (EU) and some non-EU countries (Kosovo and Montenegro). The design was presented to the public by the European Commission on 12 December 1996. It consists of a stylized letter E (or epsilon), crossed by two lines instead of one. The character is encoded in Unicode at U+20AC € EURO SIGN (HTML € · €). In English, the sign precedes the value (for instance, €10, not 10 €, unlike most other European languages). In some style guides, the euro sign is not spaced (10€).European Commissioner for Industry and Entrepreneurship
The Commissioner for Industry and Entrepreneurship is a Vice-President of the European Commission. The current commissioner is Jyrki Katainen.
The post was enlarged from the Commissioner for Enterprise and Information Society portfolio in the Prodi Commission to include Industry.European Investment Fund
The European Investment Fund (EIF), established in 1994, is a European Union agency for the provision of finance to SMEs (small and medium-sized enterprises), headquartered in Luxembourg.
It does not lend money to SMEs directly; rather it provides finance through private banks and funds. Its main operations are in the areas of venture capital and guaranteeing loans. Its shareholders are: the European Investment Bank (62%); the European Union, represented by the European Commission (29%); and 30 privately owned EU financial institutions (9%).European Regional Development Fund
The European Regional Development Fund (ERDF) is a fund allocated by the European Union. Its purpose is to transfer money from richer regions (not countries), and invest it in the infrastructure and services of underdeveloped regions. This will allow those regions to start attracting private sector investments, and create jobs on their own.Lisbon Strategy
The Lisbon Strategy, also known as the Lisbon Agenda or Lisbon Process, was an action and development plan devised in 2000, for the economy of the European Union between 2000 and 2010. A pivotal role in its formulation was played by the Portuguese economist Maria João Rodrigues.
Its aim was to make the EU "the most competitive and dynamic knowledge-based economy in the world capable of sustainable economic growth with more and better jobs and greater social cohesion", by 2010. It was set out by the European Council in Lisbon in March 2000. By 2010, most of its goals were not achieved. It has been succeeded by the Europe 2020 strategy.List of European Union member states by average wage
This is a map and list of European Union member states containing monthly (annual divided by 12 months) net income (after taxes) average wages of full-time workers in the European Union expressed in euros. The chart below reflects the average (mean) wage as reported by Eurostat for 2015. In less developed markets, actual incomes may exceed those listed in the table due to the existence of grey economies. In some countries, social security, contributions for pensions, public schools, and health are included in taxes.List of European Union member states by health expense per person
This is a list of European Union member states by health expense per person.List of European Union member states by minimum wage
The following list provides information relating to the minimum wages (gross) of in the European Union member states.
The calculations are based on the assumption of a 40-hour working week and a 52-week year, with the exceptions of France (35 hours), Belgium (38 hours), United Kingdom (38.1 hours), Ireland (39 hours), and Germany (39.1 hours).Most of minimum wages are fixed at a monthly rate, but there are countries where minimum wage is fixed at an hourly rate or weekly rate.
European countries on the minimum wage
Countries marked on the map in blue have a minimum wage - in the range from €1000 and above, in orange - from €500 to €1000, in red - below €500. Countries marked on the map in purple do not have a minimum wage.List of European Union member states by unemployment rate
This is list of European Union member states by unemployment and employment rate.List of sovereign states and dependent territories in Europe by GDP (PPP)
This is a list of European nations sorted by their Gross Domestic Product (GDP), the value of all final goods and services produced within a nation in a given year. The GDP dollar estimates presented here are derived from purchasing power parity (PPP) calculations for the latest years recorded in the CIA World Factbook. The list includes all members of the Council of Europe, Belarus and Kosovo. The figures provided are all quoted in US dollars.List of sovereign states in Europe by GDP (nominal)
Map of European countries by Nominal GDP in billions USD.
Data produced by the International Monetary Fund for the year 2018.List of the largest trading partners of the European Union
According to the European Commission Directorate-General for Trade. The 10 largest trading partners of the European Union with their total trade (sum of imports and exports) in millions of euro for calendar year 2017 are as follows.These figures do not include foreign direct investment or trade in services, but only trade in goods.Snake in the tunnel
The snake in the tunnel was the first attempt at European monetary cooperation in the 1970s, aiming at limiting fluctuations between different European currencies. It was an attempt at creating a single currency band for the European Economic Community (EEC), essentially pegging all the EEC currencies to one another.
Pierre Werner presented a report on economic and monetary union to the EEC on 8 October 1970. The first of three recommended steps involved the coordination of economic policies and a reduction in fluctuations between European currencies.With the failure of the Bretton Woods system with the Nixon shock in 1971, the Smithsonian Agreement set bands of ±2.25% for currencies to move relative to their central rate against the US dollar. This provided a tunnel within which European currencies could trade. However, it implied much larger bands in which they could move against each other: for example if currency A started at the bottom of its band it could appreciate by 4.5% against the dollar, while if currency B started at the top of its band it could depreciate by 4.5% against the dollar.If both happened simultaneously, then currency A would appreciate by 9% against currency B. This was seen as excessive, and the Basel agreement in 1972 between the six existing EEC members and three about to join established a snake in the tunnel with bilateral margins between their currencies limited to 2.25%, implying a maximum change between any two currencies of 4.5%, and with all the currencies tending to move together against the dollar. This agreement also led to the formal end of the Sterling Area.
The tunnel collapsed in 1973 when the US dollar floated freely. The snake proved unsustainable, with several currencies leaving and in some cases rejoining. By 1977, it had become a Deutsche Mark zone with just the Belgian and Luxembourg franc, the Dutch guilder and the Danish krone tracking it. The Werner plan was abandoned.The European Monetary System followed the "snake" as a system for monetary coordination in the EEC.Transport in the European Union
Transport in the European Union is a shared competence of the Union and its member states. The European Commission includes a Commissioner for Transport, currently Violeta Bulc. Since 2012, the Commission also includes a Directorate-General for Mobility and Transport which develops EU policies in the transport sector and manages funding for Trans-European Networks and technological development and innovation, worth €850 million yearly for the period 2000–2006.
|Member state||2009||2010||2011||2012||2013||2014||2015||2016||2017||2018||2019||Last available|
|Member state||Public deficit as % of GDP (2018)
(E.U. limit : -3%)
|Public debt as % of GDP (2017)
(E.U. limit : 60%)
|HICP inflation rate (2018)
Max. 1.9% (as of 22 May 2018)
|Long-term interest rate (03/18)|
Max. 3.2% (as of 22 May 2018)
|Rank||Partner region||Imports (million euro)||% (of total)||Exports (million euro)||% (of total)||Total trade (million euro)||% (of total)|
|-||EU Candidate Countries||55,386||3,1%||89,654||5,3%||145,040||4,2%|
|-||Latin America Countries||109,978||6,1%||110,297||6,5%||220,275||6,3%|
|-||MEDA(Excl. EU and Turkey)||73,341||4,1%||92,812||5,5%||166,153||4,8%|
|Main trade partners||2008||2009||2010||2011|
|Exports (million euro)||Imports (million euro)||Total Trade (million euro)||Exports||Imports||Total Trade||Exports||Imports||Total Trade||Exports||Imports||Total Trade|
Economy of the European Union
European Union articles
|Exports by product|