Distribution of the volume of trade between the United States, Europe and Asia (USD trillion, %)

In global trade the dominance of the United States is far from clear, while Eurasia’s rise is all the more spectacular. While the United States is the most important trading partner for 52 countries in the world, China is considered as the main trading partner by 124 nations. For decades, the United States and Europe have cultivated the closest trade relations with the largest volumes in trade worldwide. The two regions engage in trade worth over USD 1 trillion across the Atlantic each year. However, if we consider that the annual volume of trade between the EU and China is USD 400 billion, and the EU trades with the Association of Southeast Asian Nations (ASEAN) to the tune of USD 200 billion each year, with Japan for USD 150 billion annually, and with India for USD 100 billion per year, the total exceeds USD 1 trillion, and in recent years it has grown to USD 1.6 trillion (Figure 26). Owing to new free trade agreements and the Belt and Road Initiative (BRI) megaproject by China, trade relations between Europe and Asia are set to grow even further.

Regional distribution of the TOP 2000 firms in the world
The world’s passport index by countries in 2019