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How important is the EU as a marketplace for member countries?

April 26, 2017countries EU Marketplace

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How important is the EU as a marketplace for member countries?

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The European Union is now the biggest marketplace for companies operating within the region. Exports to other EU countries account for over 75% of the total external trade of Luxembourg (89.5%), Slovakia (85.1%). Czech Republic (84.0%)Netherlands (78.9%), Poland (77.3%), Portugal (77.2%) and Belgium (76.3%), Moreover, EU countries now collectively generate 18% of all world exports – compared with 12.4% by the United States, 10.5% by China and 8.2% by Japan.