EU’s car trade surplus was 89.3B euro in 2024
In 2024, the EU exported 5.4 million cars and imported four million cars, EU statistics agency Eurostat said on April 1.
Compared with 2019, the number of exported cars dropped by 13.2 per cent while the number of imported cars decreased by three per cent.
Measured in value, in 2024, the EU exported 165.2 billion euro worth of cars and imported 75.9 billion euro, resulting in a trade surplus of 89.3 billion euro. Compared with 2019, exports rose by 17.7 per cent (+€24.8 billion), and imports increased by 20.0 per cent (+€12.7 billion).
The decreased number of exported and imported cars, along with the increased trade values, reflect the rise in prices between 2019 and 2024.
In 2024, the United States and the United Kingdom were the top destinations for EU car exports, with 38.9 euro and 34.3 billion euro, respectively. China followed with 14.5 billion euro, then Türkiye with 12 billion euro and Switzerland with 8.5 billion euro.
Looking at the top export partners between 2019 and 2024, the EU saw the biggest increase in car exports to Türkiye, rising by 364.1 per cent. In contrast, exports to China experienced the largest drop, decreasing by 22.3 per cent.
For car imports to the EU, China and Japan were the biggest suppliers, with 12.7 billion euro and 12.3 billion euro, respectively. The UK came third with 11 billion euro, followed by Türkiye with 9.1 billion euro and the United States with 8.4 billion euro.
From 2019 to 2024, the EU experienced the most significant rise in car imports from China, with an increase of 1591.3 per cent. On the other hand, imports from the UK saw the largest decline, falling by 17.1 per cent, Eurostat said.
(Photo: User3204, via Wikimedia Commons)
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