EU Car Trade Surplus Hits €89.3 Billion In 2024 Amid Shifting Market Dynamics

The European Union’s car trade landscape has undergone significant shifts in recent years. In 2024, the EU exported 5.4 million cars and imported 4.0 million, marking a 13.2% drop in exports and a 3.0% decline in imports compared to 2019. Despite the decrease in volume, the value of trade has surged, reflecting rising car prices.

In monetary terms, the EU exported €165.2 billion worth of cars while importing €75.9 billion, generating a trade surplus of €89.3 billion. This represents a 17.7% increase in export value (+€24.8 billion) and a 20.0% rise in imports (+€12.7 billion) over five years.

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Key Trade Partners: U.S. And U.K. Drive Exports, China Leads In Imports

The United States (€38.9 billion) and the United Kingdom (€34.3 billion) remained the top destinations for EU car exports in 2024, followed by China (€14.5 billion), Türkiye (€12.0 billion), and Switzerland (€8.5 billion). However, trade patterns have shifted dramatically since 2019:

Exports to Türkiye soared by 364.1%, marking the most significant increase.
Exports to China dropped by 22.3%, highlighting changing demand in the region.

On the import side, China (€12.7 billion) and Japan (€12.3 billion) were the EU’s largest car suppliers, followed by the U.K. (€11.0 billion), Türkiye (€9.1 billion), and the U.S. (€8.4 billion). The most striking trend:

Imports from China skyrocketed by 1591.3%, reflecting the country’s growing footprint in the European auto market.
Imports from the U.K. declined by 17.1%, signaling a shift in post-Brexit trade flows.

What’s Driving The Shift?

The stark contrast between the declining number of cars traded and the rising overall value points to inflation, higher production costs, and a shift toward premium and electric vehicles. With global trade tensions, evolving consumer preferences, and regulatory changes, the EU’s car market continues to evolve—raising questions about how the industry will navigate the next five years.

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Strained Household Finances: Eurostat Data Reveals Persistent Payment Delays Across Europe and in Cyprus

by THEFUTURE.TEAM

November 22, 2025

Improved Financial Resilience Amid Ongoing Strains

Over the past decade, Cypriot households have significantly increased their ability to manage debts—not only bank loans but also rent and utility bills. However, recent Eurostat data indicates that Cyprus continues to lag behind the European average when it comes to covering financial obligations on time.

Household Coping Strategies and the Limits of Payment Flexibility

While many families are managing their fixed expenses with relative ease, one in three Cypriots struggles to cover unexpected costs. This delicate balancing act highlights how routine payments such as mortgage installments, rent, and utility bills are met, but precariously so, with little room for unplanned financial shocks.

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Breaking Down Payment Delays Across the European Union

Eurostat reports that nearly 9.2% of the EU population experienced delays with their housing loans, rent, utility bills, or installment payments in 2024. The situation is more acute among vulnerable groups: 17.2% of individuals in single-parent households with dependent children and 16.6% in households with two adults managing three or more dependents faced payment delays. In every EU nation, single-parent households exhibited higher delay rates compared to the overall population.

Cyprus in the Crosshairs: High Rates of Financial Delays

Although Cyprus recorded a notable 19.1 percentage point improvement from 2015 to 2024 in delays related to mortgages, rent, and utility bills, the island nation still ranks among the top five countries with the highest delay rates. As of 2024, 12.5% of the Cypriot population had outstanding housing loans or rent and overdue utility bills. In contrast, Greece tops the list with 42.8%, followed by Bulgaria (18.7%), Romania (15.3%), Spain (14.2%), and other EU members. Notably, 19 out of 27 EU countries reported delay rates below 10%, with Czech Republic (3.4%) and Netherlands (3.9%) leading the pack.

Selective Improvements and Emerging Concerns

Between 2015 and 2024, the overall EU population saw a 2.6 percentage point decline in payment delays. Despite this, certain countries experienced increases: Luxembourg (+3.3 percentage points), Spain (+2.5 percentage points), and Germany (+2.0 percentage points) saw a rise in payment delays, reflecting underlying economic pressures that continue to challenge financial stability.

Economic Insecurity and the Unprepared for Emergencies

Another critical indicator explored by Eurostat is the prevalence of economic insecurity—the proportion of the population unable to handle unexpected financial expenses. In 2024, 30% of the EU population reported being unable to cover unforeseen costs, a modest improvement of 1.2 percentage points from 2023 and a significant 7.4 percentage point drop compared to a decade ago. In Cyprus, while 34.8% still report difficulty handling emergencies, this marks a drastic improvement from 2015, when the figure stood at 60.5%.

A Broader EU Perspective

Importantly, no EU country in 2024 had more than half of its population facing economic insecurity—a notable improvement from 2015, when over 50% of the population in nine countries reported such challenges. These figures underscore both progress and persistent vulnerabilities within European households, urging policymakers to consider targeted measures for enhancing financial resilience.

For further insights and detailed analysis, refer to the original reports on Philenews and Housing Loans.

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