Visualizing Global Trade Dominance: U.S. vs. EU (2000-2024)

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Visualizing Global Trade Dominance: U.S. vs. EU (2000-2024)

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From 2000 to 2024, global trade volumes surged for both the United States and the European Union.

U.S. total goods trade (exports plus imports) more than doubled, rising from $2.04 trillion to $5.38 trillion at a compound annual growth rate (CAGR) of 4.1%. The European Union experienced slightly faster growth, with trade expanding from $1.77 trillion to $5.43 trillion at a 4.8% CAGR.

In 2024, the U.S. and EU had similar trade volumes, but key differences emerged in their trade profiles.

The EU exported $2.8 trillion—34% more than the U.S., which exported $2.1 trillion—while the U.S. imported $3.3 trillion, 25% more than the EU’s $2.6 trillion. This resulted in a $1.2 trillion trade deficit for the U.S., in contrast to the EU’s $160 billion surplus.

Additionally, goods trade represented a larger share of the EU’s economy, accounting for 28.0% of GDP compared to 18.4% for the U.S.

In this visualization, creator Ehsan Soltani explores the shifting dynamics of global trade dominance between the United States and the EU. The data is sourced from the United States Census Bureau and Eurostat.

Shifting Trade Influence: 2020 vs. 2024

In 2000, the European Union was the primary trade partner for much of the world, between the two blocs. However, the United States maintained stronger trade relationships across the Americas (excluding countries such as Argentina, Brazil, Chile, Uruguay, and Suriname), many major Asian economies (including China, Japan, South Korea, and Southeast Asia), and parts of Africa like Angola, Gabon, and Nigeria.

By 2024, subtle but important shifts in global trade dynamics had occurred. Chile emerged as a stronger U.S. partner. In Asia, the EU overtook the U.S. as China’s main trade partner. In Africa, the United States lost ground, with Angola, Gabon, and Nigeria shifting to the EU, making the bloc the leading trade partner for all African countries. In the Middle East, Jordan switched from the EU to the U.S. as its top partner.

The United States retained its position as the top trade partner for some of Asia’s most export-driven economies: Japan, South Korea, Malaysia, the Philippines, Singapore, Taiwan, and Thailand all continued to rely heavily on U.S. demand for their goods.

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To learn more about global trade, check out: Global Trade Dominance: U.S. vs. China (2000 & 2024)

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