EU Trade with the Indo-Pacific Region in 2024
In 2024, the European Union's trade with the Indo-Pacific region reached €848.0 billion. Imports were valued at €450.3 billion, while exports totaled €397.7 billion.
Compared to 2023, imports decreased by 2.4%, whereas exports rose by 1.1%. Trade with this region accounted for 18.5% of all EU imports and 15.4% of all EU exports in 2024.
Trade Trends from 2014 to 2024
Between 2014 and 2024, EU trade with the Indo-Pacific experienced fluctuating growth. The pandemic caused a sharp decline in 2020, with imports falling 8.6% and exports down 12.3%.
Recovery saw record growth in 2021 (+20.0% imports, +16.8% exports) and 2022 (+33.1% imports, +15.6% exports). Trade decreased again in 2023 but declined only slightly in 2024.
Overall, imports rose by 81.1% and exports by 38.3% over the decade.
Trade Deficit Dynamics
In 2024, the EU had a trade deficit of €52.7 billion with the Indo-Pacific region. From 2014 to 2018, the EU maintained a trade surplus, which shifted to a deficit starting in 2019.
The deficit peaked at €98.3 billion in 2022, largely driven by rising imports from India and Vietnam, especially manufactured products. The deficit has reduced over the past two years.
Source dataset: DS-059331
EU trade with the Indo-Pacific has recovered from pandemic setbacks but faces a narrowing trade deficit led by imports from key countries.
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