Report on implementation of Free Trade Agreements, 1 January 2018 – 31 December 2018

Summary:

Report presented on 14 October 2019 by the European Commission on the implementation of the European Union’s most significant trade agreements during 2018.

Further information:

Despite the difficult global economic climate, European companies have continued to make good use of the opportunities created by the European Union's trade network - the largest in the world. In 2018 this network covered 31% of Europe's trade exchanges, a figure that is set to rise significantly (to almost 40%) as more trade agreements enter into force. Overall, trade accounts for 35% of the EU's gross domestic product (GDP).

In 2018 EU exports to and imports from trade agreement partners showed positive developments, with a continued growth of 2% and 4.6% respectively, with a strong performance of EU agri-food exports. The EU's growing network of trade agreements is creating economic opportunities for workers across Europe, with over 36 million jobs being supported by exports to outside of the EU. The EU recorded a surplus of €84.6 billion in trade in goods with its trade agreement partners, compared to its overall trade deficit with the rest of the world of about €24.6 billion.

EUR-Lex: SWD(2019)370: Individual reports and info sheets on implementation of EU Free Trade Agreements https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=SWD:2019:370:FIN

European Commission: Press Release, 14/10/2019: EU trade agreements: delivering new opportunities in time of global economic uncertainties https://europa.eu/rapid/press-release_IP-19-6074_en.htm

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