The Second Biggest European Export Country

In 2020, total export items were predicted to be valued at $17.309 trillion. That figure represents a rise of 8.6% over the five years beginning in 2016, but a -7.6% drop from $18.734 trillion a year earlier in 2019. China, the United States, Germany, Japan, the Netherlands, Hong Kong, South Korea, Italy, France, and Belgium are the top ten exporting countries, and Chile is the 39th biggest country for exports. These major export-based economies account for more than half (52.3%) of total exports by value from all nations. According to data from the Central Intelligence Agency’s World Factbook, the overall Gross Domestic Product (GDP) on a Purchasing Power Parity (PPP) level for all countries was $131.656 trillion in 2020. Europe after Russia and Germany has the highest exports.

39th Biggest Country for Export

Several countries are doing the exports, and Chile is the 39th biggest country doing the exports. In the year 2020, Chile’s economy ranked number 44 in terms of GDP (current US dollars), number 40 in terms of total exports, number 46 in terms of total imports, number 61 in terms of GDP per capita (current US dollars), and number 70 on the Economic Complexity Index in terms of the most complex economies (ECI).

Copper ore ($21.4 Billion), refined copper ($14.5 Billion), fish filets ($2.57 Billion), sulfate chemical wood pulp ($2.1 Billion), and pitted fruits ($1.96 Billion) are Chile’s top five exports, with the majority of these products going to China ($28.6 Billion), the United States ($9.94 Billion), Japan ($6.41 Billion), South Korea ($4.11 Billion), and Brazil ($3.07 Billion).

In the year 2020, Chile was the country with the most valuable exports of copper ore (21.4 billion dollars), refined copper (14.5 billion dollars), pitted fruits (1.96 billion dollars), and molybdenum ore (1.24 billion dollars), and grapes (1.18 billion dollars).

Exports of Europe After Russia and Germany

Regarding international trade, the European Union (EU) holds a privileged position. Because of the openness of EU trade arrangements, the EU has become the most important participant on the world commercial stage. It continues to be an advantageous zone with which to conduct business. The exports are good for Europe after Russia and Germany. Every day, the European Union (EU) is responsible for exporting commodities worth hundreds of millions of euros and importing goods worth many more. It is the world’s greatest exporter of manufactured goods and services and the major export market for around 80 different countries. The countries that make up the EU are responsible for 16 % of the total imports and exports worldwide.

According to Gruenwald, a breach in economic relations between Germany and Russia might harm the German industry, one of three global industrial centres, the United States and China.

“That would flow through to a lower GDP, lower employment, and lower confidence, and then we would get some kind of a macro-financial shock out of that.” Therefore, this is the kind of scenario that has us scared because it has the potential to move the needle,” he said.

According to the data provided by the Federal Statistical Office of Germany, the value of goods traded between Germany and Russia increased by 34.1%, reaching 59.8 billion euros (about $65 billion) in 2021. This is a huge increase from the previous year. Compared to 2020, Germany’s imports from Russia saw a significant increase of 54.2 % in the last year. The increase in exports was 15.4 %, which is lower than the increase in imports, 18.1 %.

According to the agency, the most important items that Germany shipped to Russia were automobiles, machinery, trailers, and various chemical products. The most important commodities that Russia shipped to Germany were crude oil, natural gas, metals, and coal. Russia was the fourth most significant country for German imports outside the European Union in 2021, accounting for 2.3 % of total German foreign trade and being the fifth most important country overall for German exports.

Conclusion

Within the European Union (EU), the top five export products in 2021 were machinery and equipment (12.9 % of total exports), pharmaceutical products (10.7%), motor cars (10.3 per %), chemical products (9.1 %), and computer, electronic, and optical products (10.3 %) (7.9 %). In 2021, the EU imported the top six products: computers, electronic and optical products, crude petroleum and natural gas, chemicals and chemical products, machinery and equipment, electrical equipment, and basic metals. Compared to Russia and Germany, the number of goods shipped out of Europe after Russia and Germany is far higher.