EU records €36.3bn surplus in transport services trade

The European Union recorded a €36.3 billion trade surplus in transport services in 2024, reflecting the bloc’s strong position in international transport markets, according to Eurostat.

According to the data, EU countries exported transport services worth €258.7 billion to countries outside the EU during 2024.

At the same time, imports of transport services into the EU were valued at €222.4 billion, resulting in the overall trade surplus recorded during the year.

The figures show that both exports and imports increased compared with 2023, indicating continued activity in international transport markets.

Specifically, exports of transport services rose by 3.6 per cent, while imports increased by 4.7 per cent year-on-year.

Eurostat explained that these developments point to a period of stabilisation following the sharp rise in transport service values in 2022, which had been driven by soaring energy prices.

The statistical office also noted that the European Union has maintained a consistent surplus in transport services trade throughout the period from 2014 to 2024.

This trend highlights the EU’s role as a major global provider of international transport services, reflecting the strength of the sector across the bloc.

In terms of trading partners, the United States was the largest destination for EU transport service exports in 2024, accounting for €45.9 billion or 17.8 per cent of the total.

The United Kingdom ranked second, receiving €35.6 billion worth of transport services, corresponding to 13.7 per cent of total exports.

Exports to Switzerland amounted to €21.4 billion, representing 8.3 per cent of the total.

Meanwhile, exports to China, excluding Hong Kong, reached €20.5 billion, corresponding to 7.9 per cent of the total.

The top five export destinations were completed by Singapore, with transport service exports valued at €11.2 billion, representing 4.3 per cent of the total.

These same five partners were also among the largest suppliers of transport services to the EU during the same year.

The United States ranked first among suppliers, with transport service exports to the EU valued at €35.6 billion, corresponding to 16.0 per cent of the EU’s imports.

The United Kingdom followed with €24.1 billion, accounting for 10.8 per cent of EU transport service imports.

Imports from China excluding Hong Kong reached €16.9 billion, representing 7.6 per cent of the total.

Meanwhile, Switzerland supplied €15.1 billion worth of transport services, corresponding to 6.8 per cent of the EU’s imports.

The top five suppliers were completed by Singapore, with €11.9 billion in transport service exports to the EU, accounting for 5.3 per cent of the bloc’s imports.