WORLD HISTORY

POST COLD WAR WORLD

INTEGRATION OF EUROPE

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
How much of the world’s trade does the EU make up?
A
2/5
B
1/5
C
3/4
D
1/6
Explanation: 

Detailed explanation-1: -This statistic shows the share of the European Union in the global gross domestic product based on purchasing-power-parity from 2017 to 2027. In 2020, the share of the European Union in the global gross domestic product based on purchasing-power-parity amounted to an estimated 14.92 percent.

Detailed explanation-2: -Main world traders: EU, USA and China.

Detailed explanation-3: -India is among the few nations in the world that run a surplus in services trade with the EU. Investment stocks from Europe to India reached €51.2 billion in 2015. As of 2021 EU is India’s third largest trading partner, accounting for €88 billion worth of trade in goods or 10.8% of total Indian trade.

Detailed explanation-4: -Trade (% of GDP) in World was reported at 56.54 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. World-Trade (% of GDP)-actual values, historical data, forecasts and projections were sourced from the World Bank on February of 2023.

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