EU Internal Trade Falls by 2.4% in 2023

Germany confirms itself as the largest export partner of European countries

Exports of goods from EU countries to other EU countries decreased in 2023 by 2.4% compared to the previous year. A total of 4.135 billion euros worth of goods were exported, according to Eurostat, the statistical service of the European Community.

Germany is the main export trading partner of other EU countries and the country that exports the most in value terms to the other 27 European countries: 887 billion euros in 2023, followed by the Netherlands (607.4 billion), Belgium (353 billion), Italy (332 billion), and France (323.9 billion). For most EU countries, the three largest export partners inside EU accounted for more than 50% of the total share of merchandise exports.

Observing the graph (below), which represents the evolution of long-term trade inside the EU, divided by month, it is worth noting the constant growth with three exceptions: the financial crisis of 2008, the covid pandemic with a sharp decline between February and April 2020, and then the decline in exports of goods in the common European market starting in September 2022.