In terms of goods exports, the US is the EU’s most important trade partner, with exports totalling 504 billion euros in 2023, representing 20% of all extra-EU exports. Of these, 158 billion euros, or 31%, come from Germany, making it the country with the largest exposure to the US market by a significant margin.
However, due to Germany’s strong overall export orientation, US trade flows account for only 22% of its extra-EU trade, which aligns with Italy and the EU average. Countries such as France (16.3%), the Netherlands (15.5%), and Spain (13.1%) fall below this average, making them relatively less exposed to the US market.
In contrast, Ireland sends 46% of its extra-EU trade to the US. This high exposure is partly due to the favourable tax treatment of US multinationals and the establishment of US pharmaceutical production in Ireland. Besides pharmaceutical products, EU-US trade mainly consists of cars, machinery and equipment, and chemicals.