Updated
Updated · European Commission · Jul 20
Non-EU Demand Supported 31.6 Million EU Jobs in 2024 as U.S. Led With 6.0 Million
Updated
Updated · European Commission · Jul 20

Non-EU Demand Supported 31.6 Million EU Jobs in 2024 as U.S. Led With 6.0 Million

2 articles · Updated · European Commission · Jul 20

Summary

  • 31.6 million EU jobs were tied to non-EU final demand in 2024, equal to 14.4% of total employment across the bloc.
  • That marked a sharp rise from 22.6 million jobs and an 11.5% share in 2010, showing growing EU reliance on foreign buyers for employment.
  • €2.8 trillion in EU value added was generated by goods and services ultimately used abroad in 2024, up from €1.3 trillion in 2010; its share of total EU value added climbed to 17.2% from 13.3%.
  • The United States had the biggest impact, supporting 6.0 million EU jobs and €585.8 billion of value added, ahead of the UK on employment at 3.4 million jobs and China at 3.1 million.

Insights

With millions of EU jobs tied to exports, how can it combat US tariffs and Chinese overcapacity without sparking a trade war?
Can new trade deals with Latin America and Asia truly insulate the EU economy from growing instability with the US and China?