Fastest-Growing European Export Countries

Cave in Gibraltar

Cave in Gibraltar

The following analysis highlights Europe’s fastest-growing export countries and is based on data for 2014. For more recent research statistics specific to the European Union, please see the main article Top EU Export Countries.

The average increase in the total value of all European shipments was 20.4% from 2010 to 2014.

Boasting a 177.8% gain, Gibraltar was the only geographical entity to more than double its exports over the 5-year period. The tiny British Overseas Territory has a population of 32,200 and is located on the southern end of the Iberian Peninsula.

Strategically positioned near the mouth of the Mediterranean Sea, Gibraltar’s biggest export product is refined petroleum.

Fastest-Growing European Export Countries

Listed below in descending order are the fastest-growing European export countries. Shown within parentheses is the percentage increase in each nation’s global exports from 2010 to 2014.

 Exporters% Value Change from 20102014 Exports
1.Gibraltar177.8%US$1 billion
2. Faroe Islands61.7%$1.3 billion
3. Switzerland59.1%$311.1 billion
4. Albania56.8%$2.4 billion
5. Lithuania55.6%$32.4 billion
6. Latvia53.7%$13.6 billion
7. Moldova51.8%$2.3 billion
8. Serbia51.5%$14.8 billion
9. Macedonia47.2%$4.9 billion
10. Belarus42.7%$36.1 billion
11. Bulgaria42.6%$29.4 billion
12. Romania41.4%$69.9 billion
13. Estonia37.3%$17.6 billion
14. Poland36.6%$214.5 billion
15. Slovakia34.2%$85.9 billion
16. Malta33.7%$5 billion
17. Czech Republic31.5%$173.7 billion
18. Greece29.6%$35.8 billion
19. Portugal29.5%$64 billion
20. Spain29.4%$318.6 billion
21. Cyprus27.5%$1.9 billion
22. Slovenia24.9%$30.5 billion
23. Russia23.9%$492.1 billion
24. Bosnia/Herzegovina22.7%$5.9 billion
25. United Kingdom21.1%$511.1 billion
26. Germany18.9%$1.511 trillion
27. Hungary18.7%$112.4 billion
28. Italy18.2%$528.4 billion
29. Croatia17.2%$13.8 billion
30. Austria17.1%$169.7 billion
31. Netherlands16.6%$574.5 billion
32. Belgium15.9%$472.2 billion
33. Denmark14.6%$109.8 billion
34. France10.8%$566.7 billion
35. Iceland9.7%$5.1 billion
36. Norway9.3%$142.8 billion
37. Luxembourg5.9%$14.7 billion
38. Finland5.8%$74.2 billion
39. Ukraine4.8%$53.9 billion
40. Sweden3.7%$164.3 billion
41. Andorra2.7%$94.8 million
42. Montenegro0.9%$440.7 million
43. Ireland-0.04%$118.3 billion

 
Greece posted an above average increase in the value of its exports, up 29.6% as of 2014. While much has been made of Greece’s debt troubles, its primary exports include refined oil, aluminum, machinery, pharmaceuticals, plastics and electronic equipment.

Seventeen European entities increased the value of their exports by less than 20% including trade behemoth Germany (up 18.9%). Ireland’s exports were essentially flat over the 5-year period declining a fraction of a percentage point (down 0.04%).

Research Sources:
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on June 23, 2015

The World Factbook, Field Listing: Exports, Central Intelligence Agency. Accessed on June 23, 2015

Trade Map, International Trade Centre, www.intracen.org/marketanalysis. Accessed on September 18, 2015

Wikipedia, List of European countries by population. Accessed on June 23, 2015