Europe - Name of the country in which international trade is done
Answers
According to the European Commission Directorate-General for Trade. The 10 largest trading partners of the European Union with their total trade (sum of imports and exports) in millions of euro for calendar year 2017 are as follows. In the table, a positive trade balance means that the EU exports more than it imports from the given country.[1] For most economies in the world, their leading export and import trading partner in terms of value is either the European Union or China, and to a certain degree, the United States and Japan. Other countries like Russia, Brazil, India and South Africa are emerging as significant markets or source countries in different parts of the world.
Individually for each European Union member trade with all other European Union members collectively is greater than any other trading partner. Both the European Union and the United States have China as their largest origin of imports. China's own largest source of imports is European Union. In other parts of the world the European Union or the United States is the largest trading partner, however other leading trading countries may be the most prominent in certain countries. Brazil, Russia and South Africa are becoming increasingly dominant in their respective regional areas.[citation needed]
Some isolated countries depend on a larger neighbour to be their largest trading partner – Venezuela is one of Cuba's key export markets, while doubly-landlocked Uzbekistan exports chiefly to Tajikistan and Afghanistan, its singly-landlocked neighbours.
The largest import and export merchandise trade partners for most countries of the world are listed below. Details for the European Union, Hong Kong and Macau are also included. In most cases the data relates to 2016 rankings. Data was extracted from the World Trade Organization's Trade Profile Database.[1]
