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Invoicing currencies: euro and dollar

May 20, 2019 | News

(20 May 2019) – The euro was the most used currency for EU exports and the US dollar for EU imports in 2018.

Euro Dollar
© Petr Kratochvil

Goods imported and exported by the European Union can be invoiced in a range of currencies. In 2018, the euro was the most used currency for EU exports with a share of 48% of the total value of goods exported to non-EU countries and a share of 35% invoiced in US dollars.

The picture was reversed for imports, with 56% of imports paid in US dollars and around a third in euros (35%).

For total trade (exports plus imports) the US dollar (45%) was used slightly more often than the euro (41%).

The largest proportion of extra-EU exports of goods invoiced in euros was recorded for Slovenia and Slovakia, the lowest for the United Kingdom.

The euro is the main invoicing currency for primary goods excluding petroleum for which trade is mainly invoiced in US dollars, especially for imports.

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