According to Eurostat, the export activity of European countries in 2021 increased by 13%. The main export items of the EU countries include:
- industrial equipment (12.9% of all exports),
- pharmaceutical products (10.7%),
- motor vehicles (10.3%),
- chemical products (9.1%),
- computer and electronic equipment, optics (7.9%).
Despite pandemic-related restrictions, European exports have shown strong growth across the board.
1.Industrial equipment, machine tools and machinery
Germany was the largest exporter in 2021 (38% of all EU exports). Italy is in second place with 16.5%.
2. Pharmaceutical products
Germany was again in first place with 24.4% of all EU exports. Belgium is in second place. (20.2 %).
3. Motor vehicles
Germany (54.7%) and Italy (6.6%) were the leading automotive exporting countries.
4. Chemical products
Germany holds the leading position in the export of chemical products (27.5%), followed by France (14.7%).
5. Computer hardware, electronics, optics
Germany is the main exporter of computer hardware and electronics (33.1 %). The Netherlands was the second leading exporter (17.4%).
As the world emerges from pandemic hibernation, export opportunities will certainly increase. It is critical for exporters to build their digital visibility on all tracks, including online promotion. Global marketplaces like Kompass.com are designed to help connect exporters and importers around the world directly.
According to Eurostat, in 2021, the largest importers from the European Union were:
- U.S. (18%)
- UK (13%)
- China (10%)
- Switzerland (7%)
- Russian Federation (4%)
What should exporters pay attention to when planning to promote in foreign markets?
1. Online Prospecting
The Internet is said to be the medium in which up to 80 percent of the B2B processes involved in finding potential partners take place.
The establishment of initial business contacts through specialized B2B online platforms makes it possible to compensate for the lack of face-to-face meetings by replacing them with remote personalized direct contacts.
Actively expanding to new markets and searching for potential importers in new countries is a goal that can be reached with a digital prospecting tool like EasyBusiness.
By using different criteria and search filters (for example, selecting the products you want to export and the countries you want to supply to, and setting the “Importers” filter), you’ll easily identify your potential customers and get access to their full profiles.
2. Market Intelligence
Before you start expanding into a new foreign market you need to research its specifics and general situation:
- How much demand will your product enjoy in the new market?
- Will it be on the top of imported goods?
- Which other countries’ exporters are the main suppliers to the targeted country?
- Who are your competitors in this market?
To answer all these questions the market ranking report is the best way to find the right markets and to enter them with the smart action plan.
3. Taking into account the peculiarities of export activities in the current year
According to Allianz Trade experts, the following points should be addressed in 2022:
- Global trade growth is expected to be +5.4% in 2022 and +4.0% in 2023 (up from +8.3% in 2021)
- Supply chains will not fully recover by the end of 2022
- The state of the Chinese economy will have an impact on the rate of recovery of world trade
- The most promising markets will be in the Asia-Pacific region
- The most promising areas for exports will be in the automotive, energy, electronics, and machinery industries.
Taking these factors into account, you can create a unique export-oriented digital presentation of your company, which will set the right accents, helping to convert new potential customers abroad into new buyers. It is possible to create such a presentation in-house using Booster International visibility option.
By taking advantage of the market ranking report data, you will be able to offer for export exactly those goods which will be most demanded by new buyers in a particular country.
What’s on the docket now?
According to the British Chamber of Commerce, in the first quarter of 2022, “Trends still point to lack of sustained boost to exports.”
This means that European exporters are facing new challenges and taking advantage of all the digital tools to boost their export pace is their main goal.
Kompass offers its knowledge and expertise as well as an incredibly diverse set of options for exporters looking to get their products to the top of exports. Solutions include a global online presentation in 26 languages, self-service online prospecting around the world, market ranking reports, and an international B2B database of companies from 70 countries.
Below you will find some Kompass stats in Europe:
- France: more than 10.3 million companies
- UK: Huge increase from 631K to 5.1 million companies
- Belgium: +1.7 million new companies, over 2.2 million total
- Netherlands: +1.7 million new companies, up to 2.1 million total
- Spain: +470K new companies, over 2.7 million total
- Switzerland: +240K new companies, 644K total
- Ukraine: +184K new companies, 584K total
- Romania: +827K new companies, 881K total
- Ireland: +230K new companies, 289K total
- Czech Republic: +122K new companies, 164K total
We’ve been working for over 50 years to provide you with the most effective solutions for exporting and going global so don`t hesitate to contact us for a free demo.
Kompass can accompany you in your international business project, with decades of experience and a far-reaching international physical network.
If your company is going global, looking for new suppliers, or trying to reach new clients, Kompass can provide you with all the data you need.