EU trading partners from the MENA region: an overview of imports and exports
The European Union is increasing its cooperation with other countries to strengthen its position and ensure economic development. The EU’s trading partners from the MENA region, which includes the Middle East and North Africa, deserve special attention. This region comprises 19 countries, including Saudi Arabia, the UAE, Morocco, Israel, Egypt, Algeria and others.
In recent years, relations between the EU and the MENA countries have strengthened. This has been fuelled by geopolitical processes and increased demand for oil.
One of the region’s advantages in terms of partnership is its geographical proximity. Relations between the states are being developed within the framework of the European Neighbourhood Programme, which has been running since 1995 for Algeria, Israel, Morocco, Egypt and other countries. Through this programme, the countries can count on the full EU support in trade and economic matters.
Main partnership areas
The partnership between the regions focuses on increasing trade turnover and product diversity in bilateral trade.
The results of the partnership with the Neighbourhood Programme countries:
– in 2021, imports of goods into the EU totalled €166.6 bn and exports €187 bn;
– imports rose to almost €236 bn and exports to €227 bn in 2022;
– in 2023, imports were €234.8 bn and exports €219.5 bn.
These data show an increase in the volume of trade and a strengthening of relations between the countries.
In terms of trends in cooperation with the Gulf, the situation is as follows:
– in 2021, exports were around €73 bn and imports €40.6 bn;
– imports increased to €87.6 bn, while exports were €87.8 bn in 2022;
– in 2023, imports were just over €73 bn and exports around €94 bn.
Despite cultural and geopolitical differences, the MENA region is of strategic value to the EU in terms of external trade.
Currently, the countries exchange a wide range of products. The EU imports goods from the mining, chemical and fuel industries. In 2024, imports of these goods will amount to €29.6 bn. The automotive and agricultural sectors are also important importers. The value is €67.5 bn.
One of the EU’s fundamental interests is the oil reserves in the MENA countries. European countries have increased their imports in recent years. Supplies increased significantly following the geopolitical conflict and the imposition of sanctions against one of Europe’s largest producers.
The outlook
The EU wants to increase world trade, and the Middle East and North Africa are essential parts of this strategy. To improve relations with its partners, the EU has introduced a new regulatory system, the CBAM. It takes over the organisation of export-import with environmental regulations. In 2026, the EU will require all suppliers to obtain CBAM certification, which will monitor the difference between the price of carbon-based raw materials in EU products and those of other producers.
