Intra-European Trade in Goods is Triple That for Services

The EU member states enjoy significant trade freedoms as a result of the formation of the European Union. This means that countries within the EU should not be restricted by trade barriers, such as tariffs, import/export quotas, or other discriminatory taxes or charges that would give preferential treatment to domestically produced goods or services. In practice, this is not always the case but nevertheless intra-European trade in both services and goods has represented a larger share of the Union’s GDP year-on-year as shown in a 2024 report by the European Roundtable for Industry.