A new survey from the American Chamber of Commerce to the EU (AmCham EU) and the U.S. Chamber of Commerce reports that the transatlantic economy is on the mend, thanks to the massive policy response to the recession brought on by COVID-19. Both the EU and the US are set to see a return to growth in 2021, although the rebound is uneven with the US powering ahead. Turning to the future, the report notes that the fundamentals of the transatlantic relationship remain strong and will likely play a key role in the economic recovery to come.
The report was launched during the Transatlantic Conference 2021:Global Leadership – A Transatlantic Opportunity.
The Transatlantic Economy 2021 presents the most up-to-date facts and figures about the economic relationship. The research was conducted independently by Daniel Hamilton and Joseph Quinlan for the Wilson Center’s Global Europe Program and the Foreign Policy Institute at Johns Hopkins University’s School of Advanced International Studies.
The study includes dedicated profiles for 30+ European countries and all US states.
The Transatlantic Economy 2021 annual survey highlights how the EU-US relationship remains the largest of its kind in the world. The transatlantic economic partnership generates around €6 trillion in commercial sales a year and accounts for half of total global personal consumption. No place in the world attracts more US foreign direct investment (FDI) than Europe. Over the past decade, Europe attracted 57.3% of total US global investment – more than in any previous decade.
This year’s study also features new insights into the impact of the COVID-19 pandemic, prospects for the economic recovery, Brexit, relations with China and the transatlantic energy economy.
Download the full report HERE.