Concluding remarks by the Chairperson of the Trade Policy Review Body

The EU is a large, open economy with a GDP of €14,711 billion and a total population of 508 million. Trade is very important to the economy, with exports and imports of goods valued at €3,518 billion and services at €1,517 billion. The EU has competence over the customs union and commercial policy. There is free movement of goods, capital, and labour within the EU, and 19 of the 28 member States share a common currency. Since the last Trade Policy Review of the EU in 2015, the EU economy continued to grow, but trade and economic developments varied considerably from one member State to another.