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Enhanced global steel trade monitoring
Steel Exports Report: European Union
Background
In year-to-date 2019, further referred to as YTD 2019, the European Union exported 7.4 million metric tons of steel, a 9 percent increase from 6.8 million metric tons in YTD 2018. EU exports represented about 7 percent of all steel exported globally in 2017. In value terms, steel represented just 1.5 percent of the total amount of goods the EU exported in 2018.
The EU exports steel to more than 150 countries and territories. The 10 countries labeled in the map below represent the top markets for EU exports of steel, each receiving more than 200 thousand metric tons each. The top 10 countries accounted for 69 percent of EU steel exports in 2018.
The E.U. has alternated between a steel trade surplus and trade deficit since 2005. Since 2015 the E.U. has experienced a trade deficit. Between YTD 2018 and YTD 2019 the trade deficit narrowed by 19 percent, amounting to 3.8 million metric tons in YTD 2019. After a low point in 2009 the E.U.s’ imports and exports have both increased. Imports have grown 81 percent between Q1 2009 and Q1 2019, and exports have grown 10 percent over the same period.
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