In 2024, Turkey emerged as the leading destination for EU iron and steel exports, with shipments totaling €6.2 billion. The EU's total exports of iron and steel and related articles reached €77.8 billion, while imports amounted to €73.1 billion, resulting in a trade surplus of €4.7 billion. Compared to 2019, exports increased by 15.2%, and imports rose by 23.7%, driven primarily by higher prices rather than increased physical volumes.
Iron and steel exports alone grew by 9.9% to €32.3 billion, while imports surged by 19.7% to €39.5 billion. However, export volumes decreased by 14.6%, and import volumes fell by 4.1%. Articles of iron and steel saw substantial growth, with exports rising by 19.3% to €45.5 billion and imports climbing by 28.7% to €33.6 billion. Export volumes dropped by 26.0%, while import volumes increased by 10.1%.
Turkey was also the third-largest source of EU iron and steel imports, valued at €3.5 billion. Other major export destinations included the United States (€5.4 billion), the United Kingdom (€4.0 billion), Switzerland (€2.1 billion), and Mexico (€1.7 billion). On the import side, India led with €3.9 billion, followed by South Korea (€3.6 billion), China (€3.5 billion), and the United Kingdom (€3.2 billion).
Between 2019 and 2024, exports to Mexico increased by 54.1%, and those to the United States rose by 51.1%. Imports from India surged by 89.2%, and those from South Korea grew by 43.0%. The EU's trade performance highlights its significant role in the global iron and steel market.
