representation in the US: chief of mission: Ambassador John BRUTON chancery: 2300 M Street, NW, Washington, D.C. 20037 telephone: [1] (202) 862–9500 FAX: [1] (202) 429–1766
Diplomatic representation from the US: chief of mission: Ambassador Rockwell SCHNABEL embassy: 13 Zinnerstraat/Rue Zinner, B-1000 Brussels mailing address: same as above telephone: [32] (2) 508–2222 FAX: [32] (2) 512–5720
Flag description:
on a blue field, 12 five-pointed gold stars arranged in a circle,
representing the union of the peoples of Europe; the number of stars
is fixed
Economy European Union
Economy - overview:
Domestically, the European Union attempts to lower trade barriers,
adopt a common currency, and move toward convergence of living
standards. Internationally, the EU aims to bolster Europe's trade
position and its political and economic power. Because of the great
differences in per capita income (from $10,000 to $28,000) and
historic national animosities, the European Community faces
difficulties in devising and enforcing common policies. For example,
both Germany and France since 2003 have flouted the member states'
treaty obligation to prevent their national budgets from running
more than a 3% deficit. In 2004, the EU admitted 10 central and
eastern European countries that are, in general, less advanced
technologically and economically than the existing 15. Twelve EU
member states introduced the euro as their common currency on 1
January 1999. The UK, Sweden, and Denmark do not now participate;
the 10 new member states may choose to adopt the euro when they meet
the EU's fiscal and monetary criteria and the member states so agree.
GDP (purchasing power parity):
$11.65 trillion (2004 est.)
GDP - real growth rate:
2.4% (2004 est.)
GDP - per capita:
purchasing power parity - $26,900 (2004 est.)
GDP - composition by sector: agriculture: 2.2% industry: 28.3% services: 69.4% (2004 est.)
Labor force: 215 million (various)
Labor force - by occupation: agriculture 4.5%, industry 27.4%, services 66.9% note: the remainder is in miscellaneous public and private sector industries and services (2004)
Unemployment rate:
9.5% (2004 est.)
Population below poverty line:
See individual country listings
Household income or consumption by percentage share: lowest 10%: 2.9% highest 10%: 25.4% (1995 est.)
Distribution of family income - Gini index:
31.2 (2003 est.)
Inflation rate (consumer prices):
2.1% (2004 est.)
Investment (gross fixed):
percent of GDP - 19.5% of GDP (2004 est.)
Agriculture - products:
wheat, barley, oilseeds, sugar beets, wine, grapes, dairy products,
cattle, sheep, pigs, poultry, fish
Industries:
among the world's largest and most technologically advanced, the
European Union industrial base includes: ferrous and non-ferrous
metal production and processing, metal products, petroleum, coal,
cement, chemicals, pharmaceuticals, aerospace, rail transportation
equipment, passenger and commercial vehicles, construction
equipment, industrial equipment, shipbuilding, electrical power
equipment, machine tools and automated manufacturing systems,
electronics and telecommunications equipment, fishing, food and
beverage processing, furniture, paper, textiles, tourism
Industrial production growth rate:
2.4% (2004 est.)
Electricity - production:
2.888 trillion kWh (2002 est.)
Electricity - consumption:
2.661 trillion kWh (2002 est.)
Electricity - exports:
270.8 billion kWh (2002)
Electricity - imports:
268.5 billion kWh (2002 est.)
Oil - production:
2.648 million bbl/day (2001)
Oil - consumption:
14.54 million bbl/day (2001)
Oil - exports:
5.322 million bbl/day (2001)
Oil - imports:
15.69 million bbl/day (2001)
Oil - proved reserves:
28.21 billion bbl (1 January 2002)
Natural gas - production:
242.6 billion cu m (2001)
Natural gas - consumption:
467.7 billion cu m (2001)
Natural gas - exports:
78.1 billion cu m (2001)
Natural gas - imports:
297.8 billion cu m (2001)
Natural gas - proved reserves:
3.256 trillion cu m (1 January 2002)
Current account balance:
$NA
Exports:
$1.109 trillion
note: external exports, excluding intra EU trade (2003)
Exports - commodities:
machinery, motor vehicles, aircraft, plastics, pharmaceuticals and
other chemicals, fuels, iron and steel, nonferrous metals, wood pulp
and paper products, textiles, meat, dairy products, fish, alcoholic
beverages.
Exports - partners:
US 22.9%, Switzerland 6.9%, China 4.1%, Japan 4%
Imports:
$1.123 trillion
note: external imports, excluding intra-EU trade (2003)
Imports - commodities:
machinery, vehicles, aircraft, plastics, crude oil, chemicals,
textiles, metals, foodstuffs, clothing
Imports - partners:
US 15.1%, China 9.7%, Japan 6.7%, Switzerland 5.6%
Reserves of foreign exchange and gold:
$NA
Currency (code):
euro, British pound, Danish kroner, Swedish kroner, Cypriot pound,
koruny (Czech Republic), krooni (Estonia), forint (Hungary), lati
(Latvia), litai (Lithuania), Maltese liri, zloty (Poland), koruny
(Slovakia),