The EU has around 495 million inhabitants. It is the world's third largest population after China and India.
Although only 7 percent of the world's population lives within EU27, the Union's trade with the rest of the world accounts for around one fifth of all global imports and exports, the EU is thus a major trading power.
Trade between EU countries accounts for two thirds of the total EU trade, although levels vary between Member States. Thanks to the internal market, trade between the countries has facilitated considerably as goods, services, capital and people now can move freely across borders.
The EU is the world's leading exporter and the second largest importer.
The U.S. is the EU's main trading partner, followed by China.
During 2005, the EU accounted for 18.1 percent of world exports and 18.9 percent of imports.
The EU is also an important trading partner for less developed countries. Most of their exports to the EU will enter without tariffs or tariff reductions. The purpose of giving this privileged access to EU markets is to strengthen economic growth in poorer countries around the world.
EU's gross domestic product (GDP), ie. Economy’s output of goods and services is growing steadily. Since the 2004 enlargement, the EU's GDP is greater than U.S. The EU's GDP continues to grow. It has grown more slowly than the U.S. in recent years, but faster than Japan's.
Three-quarters of transport in the EU are road transports. Similarly, more than three quarters of those who travel within the EU travel on the roads.
Cecilia Helland