Exports of Iron and Steel from the EU exceed 77.8 billion Euros in 2024.

In 2024, the European Union (EU) has recorded a remarkable increase in its trade of iron and steel, reaching exports valued at 77.8 billion euros, compared to imports totaling 73.1 billion euros. This performance has allowed the bloc to achieve a trade surplus of 4.7 billion euros, marking a significant growth compared to the year 2019. Exports have experienced a 15.2% increase, equivalent to a 10.3 billion euros rise, while imports rose by 23.7%, with an increase of 14 billion euros.

However, despite the growth in value, a reduction in the physical weight of exports and imports has been observed, with decreases of 17.3% and 1.6%, respectively. This discrepancy suggests that the increase in the value of these products has been driven by price increases in the market, rather than an increase in the quantity traded.

The figures also reveal that exports of iron and steel have grown by 9.9%, going from 29.4 billion euros in 2019 to 32.3 billion euros in 2024. Imports of these products have also increased, reaching 39.5 billion euros, a 19.7% increase compared to 2019. However, the weight of both indicators has decreased, with declines of 14.6% in exports and 4.1% in imports.

Regarding iron and steel articles, exports reached a value of 45.5 billion euros, representing a 19.3% increase compared to 38.2 billion euros in 2019. The corresponding imports grew by 28.7%, totaling 33.6 billion euros. In this category, exports suffered a decrease of 26% in weight, while imports increased by 10.1%.

Türkiye has positioned itself as one of the main trading partners in 2024, leading exports to the EU with 6.2 billion euros and ranking third in imports with 3.5 billion euros. The United States and the United Kingdom remain on the list of key partners, with 5.4 billion euros and 4 billion euros in exports, respectively. In the case of imports, India has stood out leading with 3.9 billion euros, followed by South Korea and China.

Between 2019 and 2024, exports of iron and steel to Mexico have grown by a significant 54.1%, while those destined for the United States have increased by 51.1%. As for imports, India’s figures have increased by 89.2%, and South Korea’s by 43%.

In the field of iron and steel articles, the EU exported 8 billion euros to the United States in 2024, a 45.1% growth from 2019, followed by the United Kingdom and Switzerland. Imports in this category were dominated by China, representing 37.3% of the total, with 12.5 billion euros.

The analysis of the data highlights the significant growth in imports from Türkiye, India, and China since 2019, with increases of 82.4%, 40.5%, and 37%, respectively. These figures reflect a dynamic and constantly evolving market for the EU in the iron and steel sector, demonstrating both growth in monetary values and a strengthening of commercial ties with strategic partners.