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The EUs share in world trade 2014

Figure 1 – The EUs share in world trade 2014

The EUs share in world trade 2014

The EU customs union has become the world’s largest trading bloc. In 2015, the EU accounted for some 15 % of world trade in goods, worth €3.5 trillion (€1.73 trillion in imports and €1.79 trillion in exports). The main EU trade partners are the United States, China, Switzerland, Russia and Turkey. The EU is the only customs union which is itself a member of the World Trade Organization (WTO). At the same time, the EU is a signatory to 30 free trade areas and 3 customs unions, with 56 partners that are WTO members or observers. These 33 arrangements cover about one third of EU trade.

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