The European Union posted a trade surplus of €23 billion in high-technology goods in 2024, reversing four consecutive years of deficits, according to data released by Eurostat on Tuesday. The shift came as EU exports of high-tech products rose sharply to €501 billion, up 8.1 percent from the previous year, while imports dipped slightly to €478 billion, down 0.2 percent compared with 2023. High-tech goods are defined by Eurostat as products with a high research and development intensity, including categories such as electronics, aerospace, computers, pharmaceuticals, and scientific instruments.
The data reflects extra-EU trade, measuring flows between the EU and non-member countries. China and the United States remained the EU’s two largest suppliers of high-tech imports. In 2024, China accounted for 30 percent of total imports, valued at €141 billion, while the United States provided 23 percent, worth €111 billion. Other significant trading partners included Switzerland with 6 percent (€31 billion), Taiwan also with 6 percent (€26 billion), Vietnam with 5 percent (€24 billion), and the UK with 4 percent (€21 billion).
Electronics and telecommunications products made up the largest share of high-tech imports from non-EU countries, representing 36 percent of total imports. China was the leading partner in this category. Computers and office machines accounted for 18 percent, followed by pharmaceuticals at 15 percent. The majority of pharmaceutical imports came from the United States. On the export side, pharmaceuticals dominated the EU’s high-tech shipments, comprising 33 percent of total exports. The United States was the top destination for EU high-tech exports, receiving 31 percent of the total, valued at €156 billion.
Eurostat data highlights changes in EU trade performance
China ranked second with 10 percent (€49 billion), followed closely by the UK at 10 percent (€48 billion), and Switzerland at 6 percent (€29 billion). Electronics and telecommunications products were the second-largest export category, making up 19 percent of the total, while aerospace products ranked third with an 18 percent share. Pharmaceutical exports were particularly prominent to the United States, Switzerland, and Japan, accounting for 54 percent, 51 percent, and 35 percent of their respective imports from the EU.
China was the largest non-EU destination for EU electronics and telecommunications exports, accounting for 32 percent of such goods (€15 billion). Aerospace goods led the export categories for the UK and Türkiye, comprising 22 percent (€10 billion) and 37 percent (€5 billion) of their high-tech imports from the EU, respectively. The Eurostat report comes at a time of increased attention to global trade dynamics and supply chain performance, especially in sectors involving advanced technology and critical materials.
High-tech exports to US valued at €156 billion
On the export side, pharmaceuticals dominated the EU’s high-tech shipments, comprising 33 percent of total exports. The United States was the top destination for EU high-tech exports, receiving 31 percent of the total, valued at €156 billion. China ranked second with 10 percent (€49 billion), followed closely by the UK at 10 percent (€48 billion), and Switzerland at 6 percent (€29 billion). Electronics and telecommunications products were the second-largest export category at 19 percent, while aerospace ranked third with an 18 percent share.
Export volumes were also supported by scientific instruments and optical technologies, which contributed a smaller but stable portion of overall trade. Pharmaceutical exports were particularly prominent to the United States, Switzerland, and Japan, accounting for 54 percent, 51 percent, and 35 percent of their respective imports from the EU. China was the leading non-EU destination for electronics, and aerospace goods were key in EU shipments to the UK and Türkiye, underscoring the varied sectoral focus across different markets. – By EuroWire News Desk.