The Transatlantic Economy 2012
Daniel Hamilton & Joseph P. Quinlan, Center for Transatlantic Relations | June 2012
Europe and the US remain each other’s most important markets despite the recession. The transatlantic economy generates close to $5 trillion in total commercial sales a year and employs up to 15 million workers in mutually “onshored” jobs on both sides of the Atlantic. The transatlantic economy is the largest and wealthiest market in the world: over 50% of world GDP in terms of value and 41% of GDP in terms of purchasing power. As globalization proceeds and emerging markets rise, however, transatlantic markets are shifting from a position of preeminence to one of predominance —still considerable, but less overwhelming than in the past.
This annual survey presents the latest set of facts and figures describing the deep economic integration binding Europe and the United States. It documents European-sourced jobs, trade and investment in each of the 50 U.S. states, and U.S.-sourced jobs, trade and investment in each member state of the European Union and other European countries. It then reviews key headline trends and helps readers understand the distinctive nature of transatlantic economic relations.
Read the full paper here.
Daniel S. Hamilton and Joseph P. Quinlan have been producing The Transatlantic Economy annual survey since 2004. Together they were recipients of the 2007 Transatlantic Leadership Award by the European-American Business Council and the 2006 Transatlantic Business Award by the American Chamber of Commerce to the European Union.