Trade between the EU and the countries or regions with which it has trade agreements has increased by 30% in recent years, according to the annual report on trade policy published by the European Commission on Thursday 3 October. They reached a value of €2.3 trillion in 2023, accounting for 45.8% of all trade between the EU and the rest of the world.
By the end of 2023, 42 agreements with 74 partners were in force. The United Kingdom remains our leading trading partner in terms of volume, followed by Switzerland and Turkey.
While the EU’s trade with the rest of the world fell by 9% in 2023, its trade with its trading partners fell by just 4.5%. Exports, for example, fell by 2.2% with countries that do not have agreements with the EU, while they rose by 1.2% with the others.
Some of the free trade agreements have greatly benefited European exporters, such as the one with South Korea: European cars have exported three times more to Seoul since 2010 (the agreement has been in force since 2011).
In its report, the Commission also highlights its success in removing 41 barriers to trade in third countries in 2023.
See the report: https://aeur.eu/f/dox (Original version in French by Léa Marchal)