Euro, dollar expected to dominate trade outside EU during 2023

Eurostat revealed that in 2023, 46% of the total trade in goods outside the European Union was conducted in euros, while 42% was in dollars, indicating that currencies of European Union countries other than the euro were used for 2% of trade, while other currencies amounted to 10%.

Eurostat said the euro was the currency most used for exports, with a 52% share, ahead of the US dollar at 32%, EU currencies other than the euro at 3%, and other currencies at 14%.

He pointed out that in 19 out of 27 EU countries, the euro was the currency most used for exports of goods outside the EU in 2023, with the highest shares recorded in Slovenia (90%), Croatia (82%) and Latvia (78%). In 6 EU countries, the US dollar was the currency most used for exports, among these, shares above 50% were recorded in Cyprus (76%), Ireland (65%) and Greece (54%).

The share of EU currencies other than the euro was particularly high in Sweden and Denmark, with shares of 50% and 28% respectively, mainly due to the use of their own national currency.

On the other hand, the Eurostat office indicated that the US dollar was the most used currency for imports in 2023, with a share of 50%, followed by the euro with 41%, and currencies of European Union countries other than the euro accounted for 1%, and other currencies accounted for 7%.

In 2023, the US dollar was the most widely used currency for imports of goods outside the EU in 16 of the 27 EU countries, and the share of the US dollar in non-EU imports was highest in Finland (67%), Greece, Poland and Lithuania (all with a 64% share). ).

In the remaining 11 EU countries, the euro was the currency most used for imports, with the highest shares in Slovenia (77%), Croatia (70%) and Slovakia (60%).