Brussels, 22 March 2022 – A new survey from the American Chamber of Commerce to the EU (AmCham EU) and the U.S. Chamber of Commerce reports that the transatlantic trade and investment relationship hit record-breaking numbers in 2021. The findings come out against a difficult political and economic backdrop, with the war raging in Ukraine and after two years of the COVID-19 pandemic. Inflation, congested supply chains, scarcity of raw materials and energy prices also add to global uncertainty. Despite this, the report demonstrates the resilience of the transatlantic economy and outlines avenues to strengthen the EU-US partnership with initiatives such as the Trade and Technology Council.
The Transatlantic Economy 2022 Full Report
Key Findings GR-US
- US Companies employed 14,578 people in Greece in 2020
- Greece exported $1.3 billion worth of goods and $1.9 billion worth of services to the US that same year
- Trade is especially strong between Greece and New York, New Jersey, California, Texas and North Carolina among other states
- The most exported goods from Greece to the US include food, metal and petroleum products
Key Findings EU-US
- The EU and the United States are each other’s most important trading partners
- The transatlantic economy generates $6 trillion in total commercial sales a year and employs up to 16 million workers in mutually “onshored” jobs on both sides of the Atlantic
- It is the largest and wealthiest market in the world, accounting for half of total global personal consumption and close to one-third of world GDP in terms of purchasing power
- Transatlantic trade in goods reached an all-time high of $1.1 trillion in 2021
- U.S. foreign direct investment (FDI) flows to Europe surged to an all-time high of $253 billion
