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18. November 2021: EU exports to the world: effects on employment

Trade is at the centre of Europe’s model of economic prosperity and competitiveness. In trade policy matters, the EU speaks with one voice globally and ranks first as the world’s largest trader of goods, services, and investments. As stated in the new Trade Policy Strategy set out by the European Commission (2021), the European Union puts the focus on open strategic autonomy, building on open trade and cooperation to defend EU interests and values. Efficient, sufficiently diversified and resilient as well as sustainable global value chains are a critical component of this approach. Furthermore, trade policy has also a key role to play in the recovery from the COVID-19 pandemic and in the green and digital transitions towards a more resilient EU in the world.
The Trade Policy Review also specifies areas and actions that are critical to achieving the EU’s objectives in the medium term (European Commission, 2021). One of the headline actions is to support an informed discussion on trade policy by interalia conducting analytical work on the impact of trade policies on employment. Against this background, Directorate General for Trade (DG TRADE) and the European Commission’s Joint Research Centre (JRC) have prepared a new updated version of two published studies in 2015 and 2018 based on reliable and comparable statistics to understand how global trade flows affect employment in the EU. The two main novelties of this report are the re-estimation of all trade and jobs figures for the EU27 by taking out the United Kingdom and calculating the trade and jobs figures for the year 2019. [...]

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