Question

The european union produces about ________ of the world's goods and services.

Answer 1

According to the Eurostat survey, Value of international trade in goods and services, selected countries, 2016, EU produces goods of worth almost 2600 billion euros. Trade in goods and services between EU Member States accounts for over two thirds of the overall trade of EU Member States.

Answer 2

The european union produces about 15% of the world's goods and services. The EU hosts only 6.9% of the world's population, but its trade with the rest of the world represents approximately 20% of world imports and exports. Approximately 62% of total trade is between the EU countries, it is one of the three main world trade powers. The other two are the United States and China.