MENA Newswire News Desk: The European Union imported €478 billion worth of high-tech products in 2023, representing a slight drop of 1 percent compared to the previous year, according to figures released by Eurostat. At the same time, the EU’s high-tech exports grew by 3 percent, reaching €461 billion. A significant portion of the EU’s high-tech imports came from China, which accounted for 32 percent (€155 billion) of the total, followed by the United States, contributing 23 percent (€108 billion). Other major partners included Switzerland, with 7 percent (€31 billion), Taiwan at 6 percent (€28 billion), and the United Kingdom and Vietnam, each accounting for 4 percent (€20 billion and €19 billion, respectively).
Electronics and telecommunications products made up the largest category of high-tech imports from non-EU countries, representing 39 percent of the total. China remained the leading partner in this category. Computers, office machines, and pharmaceuticals each represented 15 percent of the total imports, with the majority of pharmaceutical imports sourced from the United States. For Switzerland, pharmaceuticals were the dominant category, accounting for 70 percent (€22 billion) of high-tech imports. The aerospace sector was the top high-tech import from both the United States, contributing 35 percent (€37 billion), and the United Kingdom, with 30 percent (€6 billion).
On the export side, the United States remained the EU’s most significant trading partner for high-tech goods, accounting for 28 percent (€128 billion) of exports to non-EU countries. China followed with 11 percent (€49 billion), while the United Kingdom contributed 10 percent (€44 billion). Other key export destinations included Switzerland (6 percent, €28 billion), Japan (3 percent, €15 billion), and Türkiye (3 percent, €14 billion). Pharmaceuticals accounted for the largest share (30 percent) of high-tech exports to non-EU countries, with the United States being the leading partner in this sector. Electronics and telecommunications followed with 20 percent, while aerospace accounted for 18 percent, with China and the United States leading in these sectors, respectively.