What Are the Main Imported Goods in Europe? How to Export Products to Europe?

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ten data blog19-02-2024

The European Union is one of the world's largest trading blocs, ranking as the third-largest economy globally. Its member countries engage in imports and exports worth billions of euros each year, with one-fifth of Europeans participating in cross-border purchases. In recent years, the European market has shown significant growth and resilience, making it a promising market for international business anywhere in the world.

- The EU's major import industries include mineral fuels, petroleum; electrical and electronic equipment; machinery, nuclear reactors; and automobiles.

- The primary importers in the EU are China, the United States, the United Kingdom, Russia, and Switzerland.

- The EU ranks first in both inbound and outbound international investments.

- Several major companies, such as Volkswagen, J&J, Total, Daimler, and Allianz, have their headquarters in the EU.

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What Is the Simplest and Most Effective Way to Enter the European Market? How to Avoid Common Mistakes for Beginners?

1. If this is your first attempt to export products to Europe, ensure to minimize risks. Start by targeting a country or region with similar characteristics (language, culture, etc.) to your goal but is easier to enter. For example, if you aim to export products to Germany, it's advisable to try your products first in Austria or Switzerland. This minimizes losses and helps identify weaknesses in your concept with minimal impact.

2. Thoroughly research the characteristics of your potential audience. Determine in advance the competitiveness of your product or service in the selected country or region. Markets vary in social, cultural, and economic aspects. To export products to Europe, Tendata provides market trend analysis services. You can use pivot tables to clearly see transaction trends in all EU markets, identify the right market, and understand your target audience.

3. Identify your competitors. This is not as difficult as it sounds. By entering your product name or HS code into customs data platforms like Tendata, you can discover tens of thousands of importers who have traded with the EU. By further filtering, you can see specific EU import and export lists for the past months or years. Quickly confirm any competitor list. With the help of your competitors, you can determine which market strategy is best suited for exporting products to Europe, match the quality of services or products with the market, and understand how to improve, adjust products, and suggest pricing.

4. Enter the target market. Common ways to export products to Europe include distribution agreements, joint ventures, acquiring local companies, and collaborating directly with local importers. The simplest and most cost-effective method is to choose a suitable importer and collaborate with them. Which EU importers have demand for your products? When do they typically stock up during which seasons or months? What price range are they expecting?

Tendata is an online digital tool for finding potential buyers and clients. Using big data, it provides insights into the market, products, and competitors, helping you understand the latest customer demands and stay informed about the EU market in real-time. With Tendata's support, you can use proactive marketing to win the European market.

How effective is Tendata Customs Data?

Shanghai Tendata is a leading global trade data provider, our data covers 218 countries and regions around the world. Among them, customs data is a very core part of Tendata's data system, which currently includes more than 80 countries around the world. Tendata first started by trade data, trade data in the customs data are from formal official channels, directly reflecting the real-time update of the relationship between the enterprises of various countries, the purchase and sale of goods, the price of the Tendata customs data information is comprehensive, true and accurate for the development of foreign customers is very valuable to use. Tendata's customs data information is comprehensive, true and accurate, which is very valuable for developing foreign customers.(>>> Click for More Details)

Of course, in addition to customs data, Tendata's business data and Internet data resources come from strategic cooperation with many well-known overseas commercial companies, and are also extremely valuable. In addition to the query function, it also helps importers and exporters to intelligently analyze the market, monitor customers and competitors, supervise and manage customers and trade dynamics. Import and export enterprises can make intelligent one-key inquiry by product, company name, HS code, SIC code and other information. It can also directly tap the key person contact information of target customers and directly get the phone number, email address and social account of the boss, purchasing and CEO. Importers and Exporters can take the initiative in a multi-method and multi-dimensional way to quickly establish contact with customers, dig deeper into customer needs and facilitate order cooperation.(>>> Click for More Details)

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