EU trade fuels record 31.6m jobs as US demand leads the way

EU trade fuels record 31.6m jobs as US demand leads the way
Credit: Unsplash

About 31.6 million people in the EU were employed in 2024 because of demand for EU goods and services from countries outside the bloc.

That represented 14.4% of total EU employment, up from 22.6 million jobs — or 11.5% of the total — in 2010, Eurostat reported on Monday.

It also noted an increase in the EU’s gross value added linked to foreign final use — a measure of the value generated in the EU economy.

Domestic value added tied to products ultimately used outside the EU rose from €1.3 trillion in 2010 to €2.8 trillion in 2024.

The share of total EU gross value added associated with this foreign final use increased from 13.3% in 2010 to 17.2% in 2024.

US demand linked to the largest share of EU jobs

Trade connected to final demand in the United States supported 6.0 million EU jobs in 2024 — 19.1% of the employment linked to non-EU final use — and generated €585.8 billion in EU value added, Eurostat said.

The UK ranked second for employment, linked to 3.4 million EU workers, or 10.6% of the total tied to foreign final use.

China ranked third for employment at 3.1 million EU workers — 9.8% of the total — while it placed second for value added at €289.8 billion.

The UK was third for EU value added in foreign final use, accounting for €276.0 billion, or 9.9%.


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