EU exported €5 billion of high-tech to Turkey, led with aerospace category
The EU’s high-tech imports reached €478 billion ($527.1 billion), marking a slight 1% decrease from 2022, according to data released by Eurostat. China and the US together made up more than half of these imports, contributing €155 billion (32%) and €108 billion (23%) respectively, according to Eurostat.Other key suppliers of high-tech goods to the EU included Switzerland (7%; €31 billion), Taiwan (6%; €28 billion), and both the UK and Vietnam, each with a 4% share (€20 billion and €19 billion, respectively).
Electronics and telecommunications products formed the largest category of high-tech imports from outside the EU, accounting for 39%, with China being the primary source. Of Vietnamese imports to the EU, 73% (€14 billion) were electronics and telecommunications products. Taiwan and China followed closely, with 58% of their exports in this category, valued at €16 billion and €86 billion, respectively. (By the way I have a story here about Hakan Bulgurlu, who leads Europe’s association of home appliances)
EU exported €5 billion of high-tech to Turkey
Computers, office machines, and pharmaceutical products represented 15% of all high-tech imports, with China and the US being the leading sources. In terms of high-tech exports from the EU, the figure increased by 3% year-on-year to €461 billion. The US was the EU’s largest export market, accounting for 28% (€128 billion), followed by China (11%; €49 billion), with Japan and Turkey each taking 3% (€15 billion and €14 billion, respectively).
Pharmaceutical products dominated the EU’s high-tech exports to non-EU countries, making up 30%, with the US being the main target. Electronics-telecommunications products made up 20%, while aerospace exports accounted for 18%, with the US and China leading in these industries. Pharmaceuticals were also the largest export category for Switzerland and the US, making up 48% of their high-tech exports, valued at €14 billion and €61 billion, respectively. For China, electronics-telecommunications led, comprising 31% of high-tech exports, worth €15 billion. As for Turkey, aerospace was the largest high-tech export category, making up 35% (€5 billion), the data revealed.