Watch the video - EU high-tech exports recover: Here are the biggest trading partners

The European Union's high-tech trade balance is back in the black. These include technologies ranging from semiconductors and AI-powered machinery to renewable energy technologies and medical equipment.

In 2024, its global market exports reached more than €501 billion, marking an 8% increase from 2023, Eurostat figures showed.

By comparison, the United States exported €447 billion worth of high-tech goods in 2024.

Meanwhile, EU imports remained stable at €478 billion following a marginal 0.2% drop.

This means that after four consecutive years of deficit, EU high-tech businesses can finally post a surplus, totalling €23 billion.

The US was the bloc's largest export partner by a wide margin.

Washington pumped around €156 billion into the EU high-tech economy, followed by Beijing (€49 billion) and London (€48 billion).

Pharma rises to top, but can it survive US tariffs?

The pharmaceutical sector gets most of the credit for the trade surplus.

In 2024, it became the most valuable high-tech product exported by the EU, grossing around one-third of all EU-exported products in this category (€166 billion).

The US was the main buyer of EU pharmaceuticals, importing products worth €84 billion, followed by Switzerland (€15 billion) and Japan (€5 billion).

However, US imports of EU pharma products did drop by 30% in 2024.

Exports might fall further in 2025 and 2026 following the implementation of 15% tariffs on EU products by the US.

Experts argue that EU pharma companies may try to offset the impact by raising prices in Europe.

"Some companies have begun to respond to US demands to adjust prices," says the Atlantic Council. "Eli Lilly, which produces a leading diabetes medication, has said it will raise prices in Europe, presumably with the end goal of lowering them in the US."

"Europe’s regulators will have to confront these and similar practices in the European market."

Which other tech sectors are driving the EU surplus?

The second most profitable sector for EU high-tech exports overall was electronics and telecommunications, grossing €94 billion. However, this is half the figure recorded in 2023 when exports reached a value of €187 billion.

The category electronics and telecommunications was the best-selling in China, representing 32% of its high-tech purchases from the EU.

Aerospace was the third-highest grossing niche with €88 billion, thanks to a remarkable 57% jump in market value, and the best-selling category in Turkey (37%) and the United Kingdom (22%).

Scientific instruments ranked fourth (€77 billion), with most products (14%) being exported to the US.

Imports: China still leads thanks to electronics & telecomms

In 2024, the total value of high-tech goods bought by EU countries from China was €141 billion.

China thus confirmed itself as the bloc's largest high-tech seller with a 30% market share, down 2% from 2023.

There was little change in US imports too, with the country retaining the second-largest high-tech market share, at €111 billion.

Switzerland (€31 billion), Taiwan (€26 billion), Vietnam (€24 billion) and the UK (€21 billion) were other significant import partners.

In terms of market sectors, electronics and telecommunications were the largest share of high-tech imports in the EU (36%), with China being the largest provider.

Computers and office machines covered 18% of imports from non-EU countries, while pharmacy products accounted for 15%, mostly provided by the US (€34 billion) and Switzerland (€22 billion).