EU agri-food trade balance reached its record level in 2023, according to the latest report published by the European Commission. After a good performance of the EU agri-food trade in 2022, the most recent report released by the European Commission indicates that the EU agri-food trade balance reached its record level in 2023. EU exports reached […]
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EU and US continue strong trade and technology cooperation at a time of global challenges
The EU and the United States held the sixth meeting of the EU-US Trade and Technology Council (TTC) in Leuven, Belgium. The meeting allowed ministers to build on ongoing work and present new deliverables of the TTC after two and a half years of cooperation. The TTC is a key forum for close cooperation on transatlantic […]
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International trade in chocolate in 2023
In 2023, 867 000 tonnes of chocolate and chocolate bars were exported by EU members to countries outside the EU (extra-EU). This marks a 2% increase compared with 2022 (852 000 tonnes) and a 35% boost compared with 2013 (643 000 tonnes). The top chocolate and chocolate bar exporters to extra-EU countries were Germany, with 221 000 tonnes or 26% of the […]
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EU trade in goods with China: Less deficit in 2023
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, […]
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Council 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 […]
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EU 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, […]
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Commission 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 […]
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Ensuring 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 […]
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Which 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 […]
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