EU exports of iron and steel and related articles totalled EUR 77.8 billion in 2024, with imports at EUR 73.1 billion, resulting in a trade surplus of €4.7 billion.
According to figures released by Eurostat, the EU’s statistics agency, 2024 showed a substantial increase in the trade of these products: exports rose by 15.2% (+€10.3 billion), and imports increased by 23.7% (+€14.0 billion). These monetary increases occurred despite a decline in the physical weight of exports by 17.3% and imports by 1.6%, indicating that the value rise was primarily driven by increasing prices.
Trade data show that EU exports of iron and steel went up 9.9% from €29.4 billion in 2019 to €32.3 billion in 2024. Imports of the same products increased 19.7% in the same period, reaching €39.5 billion in 2024. However, measured in weight exports and imports decreased by 14.6% and 4.1%, respectively.
The evolution is similar with regard to articles of iron and steel. The EU exported €45.5 billion worth of these articles, indicating a 19.3% increase compared with 2019 (€38.2 billion) and imported €33.6 billion, +28.7% compared with 2019 (€26.1 billion). However, measured in weight exports decreased by 26.0% while imports increased by 10.1%.
For iron and steel, Türkiye was one of the main partners both for exports and imports in 2024, occupying the 1st place in exports with a total of €6.2 billion and 3rd place in imports with €3.5 billion.
The United States was the second biggest export partner with €5.4 billion worth of iron and steel, followed by the United Kingdom (€4.0 billion), Switzerland (€2.1 billion) and Mexico (€1.7billion).
In terms of imports, India was the number 1 partner (€3.9 billion), followed by South Korea (€3.6 billion). China (€3.5 billion) and the United Kingdom (€3.2 billion) also featured in the 2024 top 5.
Between 2019 and 2024, exports of iron and steel to Mexico increased by 54.1% and to the United States by 51.1%, while imports from India went up by 89.2% and from South Korea by 43.0%.
When it comes to articles of iron and steel, the EU exported €8.0 billion worth of these products to the United States, up 45.1% from 2019. This country was followed by the United Kingdom (€6.3 billion), Switzerland (€3.5 billion), Norway (€2.9 billion) and China (€2.8 billion).
As for import partners, China led by far with €12.5 billion worth of articles of iron and steel, representing 37.3% of total imports of these articles in 2024. Türkiye (€4.6 billion), the United Kingdom (€2.9 billion), the United States (€2.0 billion) and India followed (€1.7 billion).
A closer look at the data shows that imports from Türkiye, India and China increased significantly since 2019: +82.4%, +40.5% and +37.0%, respectively.
Thematic section on international trade in goods, Eurostat
