According to new Eurostat data, the European Union has seen significant growth in its exports of wind turbines, solar panels, and liquid biofuels between 2002 and 2023. However, the EU still imports more green energy infrastructure than it exports, indicating an imbalance in trade.
In 2023, EU member countries imported €19.7 billion worth of solar panels, a 5% increase from the previous year, while only exporting €0.9 billion worth. The trade-off for liquid biofuels was also negative, with €3.9 billion imported and €2.2 billion exported. On the other hand, EU exports of wind turbines, valued at €2 billion, exceeded imports, which totaled €0.3 billion.
While wind turbine imports and liquid biofuel imports into the EU decreased, solar panel exports increased by 5% in 2023. China remains a dominant player in the solar panel market, accounting for 98% of EU imports. India has the largest share of EU wind turbine exports at 59%.
Despite the negative trade-off, EU green energy exports have been growing in both value and quantity. Wind turbine exports saw a 49% increase in value and a 26% increase in quantity, while liquid biofuel exports grew by 36% in value and 63% in quantity. Solar panel exports also rose by 19% in value and 37% in quantity.
Overall, the EU’s green energy exports are on the rise, but a more balanced import-export trade-off is still a challenge that needs to be addressed.
Source
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