Trading With E.U. rope (28 Members, including U.K.)
The E.U. ropean Union, has been described as the “world leader in exports and top market for 100 countries”. Trade between the U.S.A. and the E.U. generates one-third of total goods and services traded and nearly half of global economic output. Traditionally the E.U. Member States have tended to trade goods with each other than with countries outside the E.U. , although there has been some change in recent years.
The E.U.-28 accounted for a 23.8 % share of the world’s GDP in 2014. This market is made up of a population of 743.1 million people, currently including U.K., however, post Brexit in 2018, the region will have 66 million less people.
E.U. policymakers see the promotion of international trade as a key driver of economic growth and job creation within the E.U. ’s internal market according to E.U. roStat.
Services play a major role in competitive economies, particularly those that provide services to drivers of the economy, such: transport, communications and business services. International trade in services is key for some of the E.U.’s member states and increasingly are exports to developing nations, particularly in terms of construction related projects.