May 14, 2024
The total trade value of raw materials between the European Union and the rest of the world in 2023 was €165 billion (imports plus exports). There was a €29 billion trade deficit as a result of lower exports (€68 billion) than imports (€97 billion).
The EU’s overall raw material trade increased by 37% between 2013 and 2023, or 3.2% year on average. Exports increased by 3.8% during this time, outpacing import growth of 2.8%.
Raw materials can be broken down into three main categories: wood, paper, and textiles; rubber, metals, and minerals; and animal and vegetable raw materials.
Rubber, metals, and minerals accounted for the greatest group in terms of export value in 2023 (€26 billion, or 38% of all exports). These were followed by animals and vegetable raw materials (€22 billion, or 32%), and wood, paper, and textiles (€21 billion, or 30%).
About half of the imports (€48 billion, 49%) were made up of rubber, metals, and minerals, with the remaining imports being made up of animal and vegetable raw materials (€35 billion, 37%), followed by wood, paper, and textiles (€14 billion, 14%).
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