The steady growth of EST trade shows the importance of sustainable solutions
- Trade among key exporters and importers over the last twenty years shows clear growth in EST trade – increasing by as much as 80 per cent over the last decade.
- The increase shown in the trade of ESTs reflect the growing need for such technology and shifting towards a more sustainable path.
Largest trading hubs remain the key EST traders
- China is currently the biggest exporter of ESTs, followed by Germany and the US. Similarly, the US, China, and Germany are also the largest importers of ESTs.
- Tariff cuts encourage rapid growth in the EST sector. Smaller EST importers, such as Mexico, have applied deep tariff cuts on green technologies. As a result, Mexico is the only developing country to feature on the top ten list of importers outside of China.
Dynamics between exporters and importers will shape the future of ESTs
- The analysis of monthly trade flows between the EU and China shows that the EU consistently imports more ESTs from China than it exports.
- The EU is a net exporter of ESTs to the US, with trade flows of ESTs from the EU to the US increasing by 118% over the past 10 years. Flows in ESTs from the US to the EU grew at a slower rate of 40% over the same time period.
- Germany is consistently a net exporter of ESTs to the other 27 EU countries. Trade flows from Germany to the rest of the EU increased in value by 37% over the past ten years, while EST exports from other EU countries to Germany increased by 31%.