How are Europe and South America deepening their economic ties?

The European Union and Mercosur trade relationship connects over 700 million consumers across Europe and South America.

The EU is Mercosur's second-largest partner in trade in goods, accounting for almost 17% of Mercosur's total trade in 2024.

Meanwhile, Mercosur, which counts Argentina, Bolivia, Brazil, Paraguay and Uruguay among its members, is the EU's tenth-largest partner for trade in goods.

In 2024, the EU's trade with Mercosur was worth more than €111 billion: €55.2 billion in exports and €56 billion in imports. More than 80% of the trade flow was between the EU and Brazil.

Between 2014 and 2024, EU-Mercosur trade in goods grew by more than 36%: imports shot up by more than 50%, while exports increased by 25%.