Sure! Here’s the translation into American English:
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In 2024, the European Union (EU) recorded a significant change in its high-tech product trade, with a remarkable increase in exports and a slight decrease in imports. The figures indicate that imports reached a value of €478 billion, representing a decline of 0.2% compared to the previous year. In contrast, exports showed considerable growth, reaching €501 billion, which is an increase of 8.1%. This shift has allowed the extra-EU trade balance in high-tech products to move from a deficit of €15 billion in 2023 to a surplus of €23 billion in 2024, ending four consecutive years of deficits.
More than half of the high-tech imports in the EU came from China, accounting for 30% of the total, equivalent to €141 billion. The United States followed in second place with 23%, reaching €111 billion. Other important trading partners included Switzerland and Taiwan, each with a 6% share, equivalent to €31 billion and €26 billion, respectively. Vietnam and the United Kingdom represented 5% and 4% of imports, totaling €24 billion and €21 billion.
In terms of product types, the electronics and telecommunications sector led high-tech imports from non-EU countries, accounting for 36% of the total. Computer equipment and office machinery represented 18%, while pharmaceuticals reached 15%. Most of these imports came from China and the United States.
On the export side, pharmaceuticals led the trade, making up 33% of the EU’s high-tech exports to non-EU countries. The United States emerged as the primary recipient of these exports, with 31% of the total, amounting to €156 billion, followed by China and the United Kingdom, each with 10%.
Moreover, pharmaceuticals were essential for other trading partners such as the United States, where they accounted for 54% of high-tech exports, equivalent to €84 billion, and Switzerland, where they reached 51%. In contrast, the electronics and telecommunications category turned out to be the most significant for China, accounting for 32% of its exports.
These data highlight the complexities of a constantly changing technology sector, where the EU seeks not only to consolidate its trade balance but also to reaffirm its competitiveness in the dynamic global high-tech market.
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Source: MiMub in Spanish
