(Finance) – in 2024theEuropean Union exported iron and steel and related articles For a value of 77.8 billion euros and has imported 73.1 billion euros, with a commercial surplus of 4.7 billion euros. Compared to 2019, there was a substantial increase in the trade of these products: exports increased by 15.2% (+10.3 billion euros) and imports increased by 23.7% (+14.0 billion euros).
These increases occurred despite a drop in the physical weight of exports of 17.3% and imports of 1.6%, which indicates that the increase in value was mainly determined by the increase in prices.
Commercial data show that exports of iron and steel EU increased by 9.9%, from 29.4 billion euros in 2019 to 32.3 billion euros in 2024. The imports of the same products increased by 19.7% in the same period, reaching 39.5 billion euros in 2024. However, measured by weight, exports and imports decreased by 14.6% and 4.1% respectively.
As for the Iron articles and steelevolution is similar. The EU exported 45.5 billion euros of these items, indicating an increase of 19.3% compared to 2019 (38.2 billion euros) and imported 33.6 billion euros, +28.7% compared to 2019 (26.1 billion euros). However, measured by weight, exports decreased by 26.0% while imports increased by 10.1%.
For iron and steelthe Türkiye It was one of the main partners both for exports and for imports in 2024, occupying 1st place in exports with a total of 6.2 billion euros and 3rd place in imports with 3.5 billion euros. The United States They were the second export partner with 5.4 billion euros of iron and steel, followed by the United Kingdom (4 billion euros), Switzerland (2.1 billion euros) and Mexico (1.7 billion euros).
In terms of imports, theIndia It was partner number 1 (3.9 billion euros), followed by South Korea (3.6 billion euros). Even China (3.5 billion euros) and the United Kingdom (3.2 billion euros) include in the Top 5 of 2024. Between 2019 and 2024, iron and steel exports to Mexico They increased by 54.1% and to the United States by 51.1%, while imports from India increased by 89.2% and South Korea by 43%.
As for the Iron articles and steelthe EU exported to United States Products for a value of 8 billion euros, an increase of 45.1% compared to 2019. This country was followed by the United Kingdom (6.3 billion euros), Switzerland (3.5 billion euros), Norway (2.9 billion euros) and China (2.8 billion euros). As for the import partners, the China He has far guided with 12.5 billion euros of iron and steel articles, representing 37.3% of the total imports of these items in 2024. They follow Turkey (4.6 billion euros), the United Kingdom (2.9 billion euros), the United States (2 billion euros) and India (1.7 billion euros). A more attentive look at data shows that imports from Türkiye, India and China have increased significantly since 2019: respectively +82.4%, +40.5%and +37.0%.