European Union Trade & Investment Summary
U.S. goods and services trade with the European Union totaled an estimated $1.3 trillion in 2022. Exports were $592.0 billion; imports were $723.3 billion. The U.S. goods and services trade deficit with the European Union was $131.3 billion in 2022.
U.S. goods exports to the European Union in 2022 were $350.8 billion, up 28.8 percent ($78.5 billion) from 2021 and up 66 percent from 2012. U.S. goods imports from the European Union totaled $553.3 billion in 2022, up 12.8 percent ($62.7 billion) from 2021, and up 69 percent from 2012. U.S. exports to the European Union account for 17.0 percent of overall U.S. exports in 2022. The U.S. goods trade deficit with the European Union was $202.5 billion in 2022, a 7.3 percent decrease ($15.8 billion) over 2021.
U.S. exports of services to the European Union were an estimated $241.2 billion in 2022, 19.0 percent ($39 billion) more than 2021, and 18 percent greater than 2012 levels. U.S. imports of services from the European Union were an estimated $170.0 billion in 2022, 29.4 percent ($38.6 billion) more than 2021, and 5 percent greater than 2012 levels. Leading services exports from the U.S. to the European Union were in the professional and management services, intellectual property, and financial services sectors. The United States has a services trade surplus of an estimated $71.2 billion with the European Union in 2022, down 0.0 percent from 2021.
U.S. foreign direct investment (FDI) in the European Union (stock) was $2.7 trillion in 2022, a 5.5 percent increase from 2021. U.S. direct investment in the European Union is led by nonbank holding companies, manufacturing, and finance and insurance.
European Union FDI in the United States (stock) was $2.4 trillion in 2022, up 4.0 percent from 2021. European Union direct investment in the U.S. is led by manufacturing, finance and insurance, and wholesale trade.
