Olan McEvoy
Research expert covering the European Union for society, economy, and politics.
Get in touch with us nowEU Internal Trade: goods trade within the EU 1999-2022, by weight
The physical element of international trade in goods is often neglected, as international statistics tend to focus on monetary value. Climate change and the escalating destruction of the natural environment make it clear, however, that the tangible elements of international trade need also to be taken into account.
In spite of the monetary value of goods traded within the EU increasing consistently over the period since 1999, the physical weight of these goods only increased until around 2014, after which it has plateaued. Since the onset of the COVID-19 pandemic, the physical volume of goods traded has even begun to decline slightly. The ability of the monetary value of economic activity to grow while its physical impact declines is a key policy aim of governments who wish to pursue a 'green growth' agenda - i.e. ensuring economic growth is compatible with policy pledges to reduce carbon emission to zero.
In spite of the monetary value of goods traded within the EU increasing consistently over the period since 1999, the physical weight of these goods only increased until around 2014, after which it has plateaued. Since the onset of the COVID-19 pandemic, the physical volume of goods traded has even begun to decline slightly. The ability of the monetary value of economic activity to grow while its physical impact declines is a key policy aim of governments who wish to pursue a 'green growth' agenda - i.e. ensuring economic growth is compatible with policy pledges to reduce carbon emission to zero.
