The European Central Bank published analysis in its Economic Bulletin assessing how the sectoral make-up of euro area exports has contributed to the post‑pandemic decline in global goods export market share. It finds the euro area’s share of global goods exports has fallen by about 2 percentage points since 2019, with market share losses recorded across all manufacturing export segments. Using a shift-share approach and Eurostat’s technology-intensity classification, the analysis shows euro area export losses have been concentrated in medium-high-tech sectors, which account for 55% of cumulated losses since 2019, while high-tech sectors have also underperformed despite strong global demand. The euro area’s export structure has remained broadly stable, with medium-high-tech sectors representing 41% of manufacturing exports in 2024, as China’s mix shifted toward medium-high-tech exports (from 28% to 42%) and the United States saw the strongest growth in high-tech exports alongside an almost complete recovery of export market shares in 2024. Within high-tech, the euro area is described as a global leader in pharmaceuticals with 36% of global exports and continued gains, but it has lost ground in electronics and computers, particularly to China and the United States, and it has ceded market share to China in medium-high-tech areas including electric vehicles.
European Central Bank 2025-03-18
European Central Bank analysis finds euro area goods export share down about 2 percentage points since 2019 driven by medium-high-tech losses
The European Central Bank's Economic Bulletin reveals a 2 percentage point decline in the euro area's global goods export market share since 2019, with losses across all manufacturing segments. Medium-high-tech sectors account for 55% of these losses, despite stable export structures. The euro area remains a leader in pharmaceuticals but has lost ground in electronics and computers to China and the United States.