Intra-European Trade in Goods is Triple That for Services

The EU members states enjoy significant trade freedoms as a result of the formation of the European union. This means that countries within the EU should not be restricted by trade barriers, such as trade tariffs, import/export quotas, or other discriminatory taxes or charges which would give preferential treatment to domestically produced goods or services. In practice, this is not always the case but nevertheless intra-European trade in both services and goods have represented a larger share of the Union’s GDP year-on-year.