Sure! Here’s the translation into American English:
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In 2023, the countries of the European Union experienced a remarkable exchange in the professional consulting and management services sector, with exports totaling €127.3 billion. However, imports were even higher, reaching €164.3 billion, resulting in a trade deficit of €37 billion. Compared to the previous year, both indicators showed significant growth: exports increased by 6.6% and imports by 8.2%.
Since 2010, there has been a clear trend where imports have consistently outpaced exports. Throughout this period, imports have grown at a steady pace, while exports have experienced more moderate growth, with notable slowdowns, except for a few exceptions like in 2018 and 2020. This dynamic has resulted in a gradual increase in the trade deficit over the last decade.
In 2023, the EU’s main trading partners maintained their positions compared to previous years. The United States leads as the largest trading partner, accounting for 29.7% of exports and 37.2% of imports. The United Kingdom follows in second place, with 22.8% of exports and 25.1% of imports, while Switzerland rounds out the trio with 14.8% of exports and 7.2% of imports.
This situation not only highlights the interdependence of the EU with its main trading partners but also underscores the growing potential of the professional services sector on the international stage. As global trade dynamics continue to evolve, it will be crucial for the European Union to adapt to these changes and maintain its competitiveness in the market.
via: MiMub in Spanish
