TRANSATLANTIC TRADE IN GOODS, AGRICULTURAL PRODUCTS AND SERVICES

Seven U.S. States ship over € 100 billion worth of goods annually to the European Union. They represent 38% of the total U.S. goods exports to the EU worth $ 262.3 billion in 2013. U.S. exports to the EU accounted for 16.6% of overall U.S. exports in 2013.The EU countries, together 2nd as an export market for the United States in 2013.

The five largest country markets were: Germany ($47.4 billion), United Kingdom ($47.4 billion), Netherlands ($42.7 billion), France ($32.0 billion), and Belgium ($31.7 billion).

The top export categories  in 2013 were: Aircraft ($31.1 billion), Machinery ($29.9 billion), Mineral Fuel (oil) ($25.7 billion), Optic and Medical Instruments ($25.4 billion), and Pharmaceutical Products ($20.1 billion). U.S. exports of agricultural products to EU countries totaled $11.9 billion in 2013.

The EU countries together would rank 5th as an Agricultural Export Market for the United States. Leading categories include: tree nuts ($2.3 billion), soybeans ($1.5 billion), soybean meal ($860 million), wine and beer ($649 million), and prepared food ($492 million).

U.S. exports of private commercial services (i.e., excluding military and government) to the EU were an estimated $208.8 billion in 2013. Other private services (business, professional and technical services and financial services), royalties and license fees, and travel categories accounted for most of U.S. services exports to the EU.

Top Exporting States

1. Texas exported $29 billion annually in goods to the EU (2011-2013 average). The EU was Texas’s second largest export market. Texas’s top industrial goods exports to the EU include: Minerals and fuels, Chemicals, Information and communication technologies.
2. California exported $27 billion annually in goods to the EU (2011-2013 average). California’s goods exports to the EU increased by 9 percent from 2011 to 2013. The EU was California’s largest export market. California’s top industrial goods exports to the EU include: Information and communication technologies, High-tech instruments and Consumer goods.
3. New York exported $18 billion annually in goods to the EU (2011-2013 average). The EU was New York’s largest export market. New York’s top industrial goods exports to the EU include: Consumer goods, Chemicals, Metals and ores.
4. Louisiana exported $10 billion annually in goods to the EU (2011-2013 average). Louisiana’s goods exports to the EU increased by 20 percent from 2011 to 2013. The EU was Louisiana’s largest export market. Louisiana’s top industrial goods exports to the EU include: Minerals and fuels, Chemicals and Machinery products.
5. Indiana exported $8 billion annually in goods to the EU (2011-2013 average). Indiana’s goods exports to the EU increased by 5 percent from 2011 to 2013. The EU was Indiana’s second largest export market. Indiana’s top industrial goods exports to the EU include: Machinery products, Chemicals, and Automotive products.
6. Georgia exported $7 billion annually in goods to the EU (2011-2013 average). Georgia’s goods exports to the EU increased by 13 percent from 2011 to 2013. The EU was Georgia’s largest export market. Georgia’s top industrial goods exports to the EU include: Forest products, Machinery products and Chemicals.
7. North Carolina exported $5 billion annually in goods to the EU (2011-2013 average). North Carolina’s goods exports to the EU increased by 9 percent from 2011 to 2013. The EU was North Carolina’s second largest export market. North Carolina’s top industrial goods exports to the EU include: Chemicals, Machinery products and Information and communication technologies.

Imports

The EU countries together, rank as the 2nd largest supplier of imports to the United States in 2013. U.S. goods imports from the EU totaled $387.3 billion in 2013. U.S. imports from the EU accounted for 17.1% of overall U.S. imports in 2013.

The five largest country suppliers of imports are: Germany ($114.6 billion), United Kingdom ($52.6 billion), France ($45.3 billion), Italy ($38.7 billion), and Ireland ($31.6 billion).

The five largest categories in 2013 were: Machinery ($64.6 billion), Vehicles ($48.8 billion), Pharmaceuticals Products ($36.9 billion), Optic and Medical Equipment ($26.0 billion), and Organic Chemicals ($24.1 billion).

U.S. imports of agricultural products from EU countries totaled $17.6 billion in 2013. The EU countries together rank 3rd (to Canada and Mexico) as a supplier of Agricultural imports to the United States. Leading categories include: wine and beer ($5.2 billion), essential oils ($2.2 billion), snack foods (including chocolate) ($1.3 billion), vegetable oils ($955 million), and processed fruits and vegetables ($939 million).

U.S. imports of private commercial services (i.e., excluding military and government) were an estimated $148.4 billion in 2013. The other private services (business, professional and technical services) category accounted for most of U.S. services imports from the EU.

Trade Balance

The U.S. goods trade deficit with the EU was $125.1 billion in 2013. The U.S. goods trade deficit with the EU accounted for 18.2+% of the overall U.S. goods trade deficit in 2013.

The United States has a private services trade surplus of $60.5 billion with the EU in 2013.