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EU car trade surplus: €89.3 billion in 2024

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In 2024, the EU exported 5.4 million cars and imported 4.0 million cars. Compared with 2019, the number of exported cars dropped by 13.2% while the number of imported cars decreased by 3.0%.

Measured in value, in 2024, the EU exported €165.2 billion worth of cars and imported €75.9bn, resulting in a trade surplus of €89.3bn. Compared with 2019, exports rose by 17.7% (+€24.8bn), and imports increased by 20.0% (+€12.7bn).

The decreased number of exported and imported cars, along with the increased trade values, reflect the rise in prices between 2019 and 2024.

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Source dataset: ds-045409 - number of cars  and value

Main trade partners: US and UK for exports, China and Japan for imports

In 2024, the United States and the United Kingdom were the top destinations for EU car exports, with €38.9 and €34.3bn, respectively. China followed with €14.5 billion, then Türkiye with €12 bn and Switzerland with €8.5bn. 

Looking at the top export partners between 2019 and 2024, the EU saw the biggest increase in car exports to Türkiye, rising by 364.1%. In contrast, exports to China experienced the largest drop, decreasing by 22.3%.

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Source dataset: ds-045409

For car imports to the EU, China and Japan were the biggest suppliers, with €12.7bn and €12.3bn, respectively. The United Kingdom came third with €11.0 billion, followed by Türkiye with €9.1bn and the United States with €8.4bn.

From 2019 to 2024, the EU experienced the most significant rise in car imports from China, with an increase of 1591.3%. On the other hand, imports from the United Kingdom saw the largest decline, falling by 17.1%.

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Methodological note

  • The article refers to the Combined Nomenclature product code 8703 - motor cars and other motor vehicles principally designed for the transport of less than 10 people, including station wagons and racing cars (excluding motor vehicles under code 8702). The number of cars is calculated by combining the following products codes which represent specific subcategories within 8703: 87031011, 87031018, 87032110, 87032190, 87032210, 87032290, 87032311, 87032319, 87032390, 87032410, 87032490, 87033110, 87033190, 87033211, 87033219, 87033290, 87033311, 87033319, 87033390, 87034010, 87034090, 87035000, 87036010, 87036090, 87037000, 87038010, 87038090 and 87039000.

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