EU-Mercosur trade up substantially in the last decade

In 2024, the EU imported €56.0 billion and exported €55.2 billion worth of goods from the four founding Mercosur (Mercado Común del Sur, in English Southern Common Market) countries - Argentina, Brazil, Paraguay and Uruguay. Compared with 2023, imports increased by 4.2%, whereas exports decreased slightly by 1.3%. 

Looking back to the past decade, EU imports went up by €18.8 billion (+50.3%) and exports by €11.1billion (+25.1%). 

In 2024, the largest Mercosur partner measured by its share in total EU trade (imports and exports) was Brazil (€89.5 billion), followed by Argentina (€16.4 billion). 

Source dataset: ds-059331 

The majority of imports from these Mercosur countries were primary goods (81.3% of total EU imports from Mercosur), while the main exports from the EU to Mercosur were manufactured goods (86.6% of total EU exports to Mercosur).

The most imported products by the EU in terms of value were petroleum and related products and materials (€12.1 billion), feeding stuff for animals (€7.1 billion), coffee, tea, cocoa, spices (€5.2 billion), metalliferous ores and metal scrap (€4.9 billion) and oil-seeds and oleaginous fruits (€3.7 billion). Among these products, imports of petroleum and related products and materials increased the most in the last 10 years (+€10.6 billion). 

The most exported products from the EU to Mercosur were medicinal and pharmaceutical products (€6.8 billion), general industrial machinery and equipment (€5.4 billion), road vehicles (€4.8 billion), machinery specialized for particular industries (€3.4 billion) and electrical machinery, apparatus and appliances (€3.0 billion). Exports of medicinal and pharmaceutical products grew by 85.9% from €3.7 billion in 2014, the highest increase among these products. 

Source dataset: ds-059331