In 2023, the EU trade in goods deficit with China stood at €291 billion, which was €106 billion lower when compared with 2022 (-27%). Between 2013 and 2023, the EU’s trade in goods deficit with China varied between €104 billion in 2013 and €397 billion in 2022, the highest value in the decade. In 2023, […]
Read MoreCouncil adopts regulation on instant payments in euro
The Council adopted a regulation that will make instant payments fully available in euro to consumers and businesses in the EU and in EEA countries. The new rules will improve the strategic autonomy of the European economic and financial sector as they will help reduce any excessive reliance on third-country financial institutions and infrastructures. Improving the possibilities […]
Read MoreEU wins WTO compliance action against US in ripe olives dispute
The World Trade Organization (WTO) has today confirmed that the EU was right to challenge the US for not complying with a ruling relating to ripe olives from Spain. Today’s WTO panel report presents again a clear and full win for the EU. It confirms that the US failed to implement the recommendations of the original panel, […]
Read MoreCommission monitors strengths and challenges of EU’s competitiveness
The Commission has published the new Annual Single Market and Competitiveness Report. The report details the competitive strengths and challenges of Europe’s Single Market, tracking yearly developments according to the nine competitiveness drivers identified in the EU’s 2023 Long-term competitiveness Communication. Those are the functioning of the Single Market, access to private capital, public investment and […]
Read MoreEnsuring euro money transfers arrive within ten seconds
The new regulation aims to make sure that retail clients and businesses, especially SMEs, will not have to wait for their money, as well as to enhance the safety of transfers. Banks and other payment service providers (PSPs) will have to ensure credit transfers are affordable and immediately processed. The text, already agreed with EU […]
Read MoreWhich EU countries spend the most on sporting goods?
In 2020, among the 22 EU countries for which data are available, 4 registered an average household expenditure on sporting goods and services above 500 purchasing power standard (PPS). PPS is an artificial currency unit that eliminates price level differences between countries. On top of the list was Luxembourg (628 PPS), closely followed by the […]
Read MoreCommission and India sign agreement on semiconductors
The co-chairs of the EU-India Trade and Technology Council (TTC), Executive Vice-President Valdis Dombrovskis and Vice-President Věra Jourová, held a stock-taking call with their Indian counterparts – Minister of External Affairs Subrahmanyam Jaishankar, Minister for Railways, Communications, Electronics and Information Technology Ashwini Vaishnaw and Minister of Commerce Piyush Goyal to weigh up the work done under the […]
Read MoreValue of EU trade deals surpasses €2 trillion
The value of EU trade through free trade agreements with global partners surpassed €2 trillion for the first time in 2022, according to the 3rd Annual Report on the Implementation and Enforcement of EU Trade Policy. The European Commission report shows that trade with our top 20 trade agreement partners grew by close to 30% […]
Read MoreSpain, together with Italy, was the largest wine exporter in the European Union in 2022
In 2022, sold production of wine (including sparkling wine, port and grape must) in the EU amounted to 16.1 billion (bn) litres. The top three wine producers accounted for 83% of EU production. Italy and Spain each contributed nearly 5.0 bn litres, representing together 62% of the total sold production in the EU, while France produced 3.4 […]
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