Brussels: Data from the European Commission showed today that trade between EU members declined for the first time in almost 10 years.

According to Qatar News Agency, the decline occurred despite ongoing efforts to revitalize the market amidst escalating trade threats from the US and China. Trade between the member states dropped as a percentage of GDP from 23.5 percent in 2023 to 22 percent in 2024. This was reported in a draft report from the European Commission, marking the first decline since 2016, not including the impacts of the COVID-19 pandemic.

The data highlight warnings made by top EU officials, such as President of the European Central Bank (ECB) Christine Lagarde, about the market coming to a standstill at a time when external challenges are increasing due to US tariffs and competition from China.

The report also indicated that the EU's share of foreign direct investment has decreased to 22 percent over the past five years, signaling a decline in the attractiveness of the European market. Enhancing the integration of the European single market has become a core focus for EU officials as they face rising trade challenges.