The EU is the world’s most powerful trade entity, collectively responsible for 29.9% of the world’s exported goods valued at $23.267 trillion in 2023. The EU’s percentage share for 2023 reflects an advance from 28.1% of the global total of $24.722 trillion for 2022.
The dollar value of the EU’s international sales of exports increased by 23% from a total $5.656 trillion 5 years earlier in 2019.
Year over year, the EU collected a flatlining 0.2% more in revenues compared to exports valued at $6.496 trillion during 2022.
In 2023, the top 5 goods exported from the 27-member EU were cars, medication mixes in dosage, processed petroleum oils, blood fractions including antisera, then automobile parts or accessories. In aggregate, those 5 exported products equaled one-fifth (20%) of the overall value for EU exports.
Please note that the metrics presented in this article focus exclusively on exports from the 27 countries that were EU members at the end of 2023. The United Kingdom formally exited from the EU on January 31, 2020.
European Union’s Top 10 Exports
The following export product groups represent the highest dollar value in EU global shipments during 2023. Also shown is the percentage share each export category represents in terms of overall exports from the EU.
- Machinery including computers: US$899.9 billion (12.9% of total exports)
- Vehicles: $827.6 billion (11.9%)
- Electrical machinery, equipment: $669.2 billion (9.6%)
- Pharmaceuticals: $524 billion (7.5%)
- Mineral fuels including oil: $440.7 billion (6.3%)
- Plastics, plastic articles: $264.8 billion (3.8%)
- Optical, technical, medical apparatus: $254.3 billion (3.7%)
- Organic chemicals: $175.3 billion (2.5%)
- Iron, steel: $161.8 billion (2.3%)
- Articles of iron or steel: $148.4 billion (2.1%)
By value, the EU’s top 10 exports accounted for 62.7% of the economic union’s global export sales.
Vehicles represent the fastest-growing product category among the top 10 export categories, up by 17.4% from 2022 to 2023. That increase was propelled largely by higher sales of trucks, cars and automotive parts or accessories shipped from the EU.
In second place were EU exports of machinery including computers via an 8.4% gain, ahead of the 8.1% increase for the EU’s revenues from exported optical, technical or medical apparatus.
Leading the product category declines was mineral fuels including oil, pulled down by a -26.3% drop year over year.
Trade Surpluses for the European Union by Major Products
The EU earned an overall US$142.8 billion surplus in its global trade for 2023. That positive cashflow reverses a -$325.2 billion trade deficit for 2022.
The following types of EU product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Machinery including computers: US$164.6 billion (Up by 52.9% since 2022)
- Pharmaceuticals: $161.6 billion (Down by -5.4%)
- Vehicles: $145.1 billion (Up by 9.5%)
- Optical, technical, medical apparatus: $48.3 billion (Up by 12.3%)
- Perfumes, cosmetics: $33.8 billion (Up by 11.6%)
- Beverages, spirits, vinegar: $30.6 billion (Down by -0.8%)
- Aircraft, spacecraft: $29.1 billion (Up by 33.2%)
- Articles of iron or steel: $23.9 billion (Up by 72.7%)
- Cereal/milk preparations: $19.8 billion (Up by 5.4%)
- Ships, boats: $17.8 billion (Down by -5.2%)
The has highly positive net exports in the international trade of pharmaceuticals and related products. In turn, these cashflows indicate the EU’s strong competitive advantages under the pharmaceuticals category.
Trade Deficits for the European Union by Major Products
Below are exports from the EU that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on EU-exported goods trail the European Union’s spending on imported products.
- Mineral fuels including oil: -US$438.4 billion (Down by -34% from 2022)
- Electrical machinery, equipment: -$116.6 billion (Down by -9.4%)
- Organic chemicals: -$35.5 billion (Down by -35.3%)
- Ores, slag, ash: -$23.9 billion (Down by -13.5%)
- Knit or crochet clothing, accessories: -$23.7 billion (Down by -31.1%)
- Fish: -$18.6 billion (Down by -4.7%)
- Fruits, nuts: -$16.3 billion (Up by 1.1%)
- Clothing, accessories (not knit or crochet): -$14.3 billion (Down by -36.8%)
- Oil seeds: -$10.9 billion (Down by -24.8%)
- Iron, steel: -$10.6 billion (Down by -50.3%)
The EU has highly negative net exports and therefore deep international trade deficits under the mineral fuels category particular for crude oil and, to a lesser extent, petroleum gases and coal.
EU Top 100 Most Valuable Exported Products
The following searchable database displays 100 of the most in-demand goods shipped from European Union members during 2023. Shown beside each product label is its total export value then the percentage increase or decrease since 2022.
| Rank | EU Export Product | Value (US$) | YoY |
|---|---|---|---|
| 1 | Cars | $446,595,176,000 | +19% |
| 2 | Medication mixes in dosage | $291,843,955,000 | +3.2% |
| 3 | Processed petroleum oils | $251,470,819,000 | -14.2% |
| 4 | Blood fractions (including antisera) | $200,691,736,000 | -10.3% |
| 5 | Automobile parts/accessories | $200,151,116,000 | +12.5% |
| 6 | Phone devices including smartphones | $93,408,118,000 | +3.6% |
| 7 | Computers, optical readers | $73,362,155,000 | -3.8% |
| 8 | Electro-medical equip (e.g. xrays) | $69,304,490,000 | +8.7% |
| 9 | Aircraft, spacecraft | $67,725,511,000 | +18.5% |
| 10 | Trucks | $61,446,424,000 | +32.3% |
| 11 | Heterocyclics, nucleic acids | $56,901,291,000 | +31% |
| 12 | Integrated circuits/microassemblies | $54,248,376,000 | -8.3% |
| 13 | Insulated wire/cable | $50,979,854,000 | +5.5% |
| 14 | Turbo-jets | $50,794,160,000 | +25.2% |
| 15 | Electric storage batteries | $49,142,420,000 | +29.9% |
| 16 | Electrical converters/power units | $47,042,125,000 | +16.2% |
| 17 | Tractors | $46,428,334,000 | +23.1% |
| 18 | Petroleum gases | $44,923,676,000 | -51.6% |
| 19 | Lower-voltage switches, fuses | $44,861,725,000 | +4.7% |
| 20 | Miscellaneous machinery | $43,511,117,000 | +11.3% |
| 21 | Taps, valves, similar appliances | $42,588,145,000 | +4.9% |
| 22 | Electrical energy | $42,445,869,000 | -47.4% |
| 23 | Miscellaneous furniture | $41,201,168,000 | -2.2% |
| 24 | Centrifuges, filters and purifiers | $41,091,428,000 | +6.1% |
| 25 | Electrical/optical circuit boards, panels | $40,499,315,000 | +20.4% |
| 26 | Orthopedic appliances | $38,341,335,000 | +8.1% |
| 27 | Miscellaneous plastic items | $37,130,544,000 | +3.4% |
| 28 | Rubber tires (new) | $35,598,207,000 | +8.9% |
| 29 | Cases, handbags, wallets | $34,480,433,000 | +7.1% |
| 30 | Liquid pumps and elevators | $33,504,444,000 | +8.5% |
| 31 | Cheese, curd | $33,500,127,000 | +7.8% |
| 32 | Air or vacuum pumps | $32,815,760,000 | +10.3% |
| 33 | Transmission shafts, gears, clutches | $32,039,360,000 | +11.2% |
| 34 | Machinery for making semi-conductors | $31,695,131,000 | +16.4% |
| 35 | Beauty/makeup/skin care preparations | $31,601,766,000 | +15.1% |
| 36 | Bread, biscuits, cakes, pastries | $31,409,807,000 | +18.8% |
| 37 | Footwear (leather) | $30,943,148,000 | +9.8% |
| 38 | Piston engine parts | $30,554,516,000 | +8.7% |
| 39 | Wine | $29,435,745,000 | +0.9% |
| 40 | Miscellaneous iron or steel items | $29,012,201,000 | +2.8% |
| 41 | Miscellaneous iron and steel structures | $28,915,544,000 | +4.3% |
| 42 | Seats (excluding barber/dentist chairs) | $28,244,055,000 | +2.3% |
| 43 | Machinery parts | $28,234,124,000 | +7.9% |
| 44 | Electric motors, generators | $27,030,152,000 | +10.4% |
| 45 | Miscellaneous animal feed preparations | $26,878,898,000 | +8.4% |
| 46 | Plastic packing goods, lids, caps | $25,540,121,000 | -1.2% |
| 47 | Other food preparations | $25,264,655,000 | +11.8% |
| 48 | Printing machinery | $24,965,883,000 | +5% |
| 49 | Chocolate, other cocoa preparations | $24,931,743,000 | +15.6% |
| 50 | Gold (unwrought) | $24,804,740,000 | +16.5% |
| 51 | #N/A | $24,394,129,000 | +13.2% |
| 52 | Dishwashing, clean/dry/fill machines | $23,790,680,000 | +10.8% |
| 53 | Plastic plates, sheets, film, tape, strips | $23,785,750,000 | -13.3% |
| 54 | Coal tar oils (high temperature distillation) | $23,609,345,000 | -10.1% |
| 55 | Biodiesel | $23,603,279,000 | -26.3% |
| 56 | Temperature-change machines | $23,180,299,000 | +12.7% |
| 57 | Other diagnostic/lab reagents | $23,178,698,000 | +7.4% |
| 58 | TV receivers/monitors/projectors | $23,149,923,000 | -16.4% |
| 59 | Women's clothing (not knit or crochet) | $23,079,504,000 | +4% |
| 60 | Jewelry | $22,838,743,000 | +8.6% |
| 61 | Swine meat | $22,407,089,000 | +8.9% |
| 62 | Refrigerators, freezers | $22,135,865,000 | +4.2% |
| 63 | Aircraft or spacecraft parts | $21,807,649,000 | +15.4% |
| 64 | Ethylene polymers | $21,500,763,000 | -23% |
| 65 | Electric water heaters, hair dryers | $21,452,865,000 | -1.7% |
| 66 | Piston engines | $21,414,292,000 | +14.5% |
| 67 | Crude oil | $21,211,885,000 | +73.3% |
| 68 | Polyacetal/ether/carbonates | $21,140,222,000 | -20.6% |
| 69 | Physical/chemical analysis tools | $20,948,224,000 | +5.1% |
| 70 | Lifting/loading machinery | $20,759,651,000 | +12.3% |
| 71 | Iron or steel scrap | $20,544,557,000 | -13.4% |
| 72 | Solar power diodes/semi-conductors | $20,260,111,000 | -0.7% |
| 73 | Chemical industry products/residuals | $20,230,535,000 | -0.9% |
| 74 | Cruise/cargo ships, barges | $19,935,731,000 | -3.9% |
| 75 | Other measuring/testing machines | $19,589,172,000 | +9.2% |
| 76 | Electric circuit parts, fuses, switches | $19,558,939,000 | +10.6% |
| 77 | Hot-rolled iron or non-alloy steel products | $19,431,426,000 | -18.8% |
| 78 | Jerseys, pullovers (knit or crochet) | $19,366,823,000 | +0.7% |
| 79 | Perfumes, toilet waters | $19,246,051,000 | +19.6% |
| 80 | Scents used for beverage or industrial manufacturing | $19,032,406,000 | +3.8% |
| 81 | Other organic cleaning preparations | $19,000,454,000 | +1.7% |
| 82 | Flat-rolled iron or non-alloy steel products (plated/coated) | $18,753,603,000 | -19.9% |
| 83 | Trailers | $18,407,294,000 | +3.7% |
| 84 | Heavy machinery (bulldozers, excavators, road rollers) | $18,320,644,000 | +20.7% |
| 85 | Hormones, miscellaneous steroids | $18,310,522,000 | +33.8% |
| 86 | Iron and steel screws, bolts, nuts, washers | $17,891,179,000 | +7.4% |
| 87 | Flat-rolled other alloy steel products | $17,611,953,000 | -2.7% |
| 88 | Harvest/threshing machinery | $17,579,539,000 | +7.8% |
| 89 | Packaged insecticides/fungicides/herbicides | $17,294,719,000 | -3.8% |
| 90 | Footwear (textile) | $16,867,986,000 | +2.8% |
| 91 | Wheat | $16,826,483,000 | -17.7% |
| 92 | Alcohol (including spirits, liqueurs) | $16,353,240,000 | -1.2% |
| 93 | Aluminum plates, sheets, strips | $16,000,071,000 | -14.4% |
| 94 | Non-alcoholic drinks (not water/juice/milk) | $15,956,098,000 | +9.7% |
| 95 | Sawn wood | $15,909,105,000 | -27.8% |
| 96 | Electrical lighting/signaling equpment, defrosters | $15,758,240,000 | +9.3% |
| 97 | Flour/meal/starch/malt extract food preparations | $15,733,984,000 | +6.9% |
| 98 | Propylene/olefin polymers | $15,669,839,000 | -19.8% |
| 99 | Plastic tubes, pipes, fittings | $15,618,951,000 | -1.4% |
| 100 | Flat-rolled stainless steel items | $15,590,613,000 | -21.8% |
These 100 exported goods were worth a subtotal of $4.2 trillion or almost three-fifths (59.4%) by value for all products exported from the EU during 2023.
Expanding the scope to the 100 most valuable exported products, the fastest-growing exports from the EU are crude oil (up 73.3% from 2022), hormones plus miscellaneous steroids (up 33.8%), trucks (up 32.3%), heterocyclics and nucleic acids (up 31%) then electric storage batteries (up 29.9%).
Other Key Facts About the EU and its Exports
From a continental perspective, almost three-quarters (72.8%) of EU exports by value were delivered to other European countries.
Fellow EU member countries bought 61.1% of the total value for EU exported goods in 2023 from fellow EU members, down from 61.7% for 2022.
The EU shipped another 12.8% worth of products to buyers in Asia plus another 9.4% to North America.
Smaller percentages went to Africa (2.6%), Latin America (1.7%) excluding Mexico but including the Caribbean, and Oceania (0.7%) led by Australia and New Zealand.
Given the European Union’s population of 449.2 million people, its total $6.959 trillion in 2023 exports translates to roughly $15,500 in international trade product sales for every EU resident. That per capita average equals the $15,500 per person one year earlier.
The EU’s average unemployment rate was 6% at May 2024, on par with the 6% at May 2023 per Trading Economics.
Headquarters for the European Union are located in Belgium’s capital city, Brussels.
Please note that metrics for the United Kingdom are reported in our separate article specific to UK exports.
Major EU Export Companies
Ranking among the top 100 listed under Forbes Global 2000 are about 20 corporations with headquarters located in the EU.
Below are selected examples of top EU companies engaged in exports-related activities.
- Anheuser-Busch InBev (beverages)
- BASF (diversified chemicals)
- BMW Group (automobiles)
- Daimler (automobiles)
- Enel (electricity, gas)
- Royal Dutch Shell (oil, gas)
- Siemens (industrial/technology conglomerate)
- Total (oil, gas)
- Volkswagen Group (automobiles)
See also Top EU Export Countries, Top EU Import Countries, Germany’s Top 10 Exports, France’s Top 10 Exports and Italy’s Top 10 Exports
Research Sources:
Central Intelligence Agency, The World Factbook Europe: European Union. Accessed on July 21, 2024
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on July 21, 2024
International Trade Centre, Trade Map. Accessed on July 21, 2024
Wikipedia, Demographics of the European Union. Accessed on July 21, 2024
Wikipedia, European Union. Accessed on July 21, 2024
Wikipedia, List of Companies of the European Union. Accessed on July 21, 2024
Wikipedia, List of European countries by population. Accessed on July 21, 2024
Wikipedia, Member State of the European Union. Accessed on July 21, 2024