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Key Economic Trends

  • In 2009, the U.S. merchandise trade deficit with the European Union (EU) decreased for the fourth year in a row, declining by 33 percent as U.S. imports from the EU showed a much sharper decline than did U.S. exports of goods to the EU.
  • U.S.-EU trade in 2009 was negatively affected by the economic downturn and rising unemployment in both regions. The EU was both the third-largest regional market for U.S. exports and the third-largest source of U.S. imports in 2009, after Asia and Latin America.
  • Nearly one-half of the decrease in U.S. imports from the EU was attributable to declines in imports of transportation equipment and energy-related products. U.S. imports of motor vehicles registered the largest declines within the transportation sector, while U.S. imports of petroleum products registered the largest declines in energy-related products.

Trade Shifts from 2008 to 2009

  • U.S. trade deficit: Decreased by $36.8 billion (33 percent) to $75.7 billion
  • U.S. exports: Decreased by $48.8 billion (19 percent) to $202.4 billion
  • U.S. imports: Decreased by $85.6 billion (24 percent) to $278.1 billion

Other Government Resources

U.S. Central Intelligence Agency
World Factbook - EU

U.S. Department of Energy, Energy Information Administration
Country Analysis Brief Europe

U.S. Department of State
Regional Topics European Union

Europa, Gateway to the European Union
Economic and Financial Affairs
External Trade

2009 Overview

Sector Shifts

Country Shifts

Frequently Asked Questions

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