In 2024, the European Union (EU) imported nearly โฌ14.6 billion worth of green energy products from non-EU countries, with solar panels, liquid biofuels, and wind turbines accounting for the bulk of imports, according to Eurostat data.
Import Trends
- Solar panels: โฌ11.1 billion, down 43% from 2023 due to falling prices, although the total weight of imports rose slightly by 2%.
- Liquid biofuels: โฌ2.9 billion, a 25% decrease in value.
- Wind turbines: โฌ0.5 billion, more than doubling in value (102%) and increasing 113% in weight, with 32,373 turbines imported, up 9,072 units from 2023.
Export Performance
The EU exported โฌ0.7 billion in solar panels, โฌ1.8 billion in liquid biofuels, and โฌ2.8 billion in wind turbines. Wind turbine exports notably exceeded imports, with 17,180 units exported, an increase of 7,434 units compared to 2023. Exports of wind turbines rose 41% in value and 28% in weight, while solar panel exports fell 22% in value but increased 24% in weight, and biofuel exports declined both in value (-18%) and weight (-7%).
Key Trade Partners
China remained the dominant supplier of solar panels, accounting for 98% of EU imports, though total import value dropped from โฌ19.0 billion in 2023 to โฌ10.9 billion in 2024. For liquid biofuels, China led with a 24% share, followed by Malaysia (15%), the United Kingdom (13%), and Brazil (12%). Wind turbine imports were primarily from India (48%) and China (43%), with China increasing its share from 31% and Indiaโs share declining from 58% year-on-year.
Insights
The data reflects the EUโs ongoing green transition, with strong demand for wind technologies and adjustments in solar and biofuel trade due to global price shifts. The trends highlight the importance of diversified sourcing, competitiveness in wind turbine manufacturing, and strategic management of import and export balances to support the EUโs renewable energy objectives.
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