The Transatlantic Economy 2022 | United States Chamber of Commerce

the Transatlantic Economy 2022 offers the latest facts and figures on economic relations between Europe and the United States.

This year’s study presents new insights into how the war in Ukraine is affecting the transatlantic relationship, the impact of the COVID-19 pandemic, prospects for ongoing economic recovery, global supply chain issues , the evolution of American and European economic relations with China and the transatlantic relationship. energy saving.

The study includes dedicated profiles for over 30 European countries and all US states. Research for the study was conducted independently by Daniel Hamilton and Joseph Quinlan of the Foreign Policy Institute at Johns Hopkins University’s School of Advanced International Studies and the Transatlantic Leadership Network.

Main findings


Chapter 1: Pain and Resilience – The Transatlantic Economy in 2022

Chapter 2: Jobs, Trade and Investment: Lasting Ties That Bind

Chapter 3: Shifting Dependencies: Rethinking Russia, China, and Global Supply Chains

Chapter 4: Digital Hyperdrive

Chapter 5: The 50 American States: jobs, trade and investment linked to Europe

Chapter 6: European countries: jobs, trade and investment linked to the United States

Appendix A: European Commerce and the 50 US States (pages describing the economic impact of investment and trade with Europe for each state plus Washington, DC)

Appendix B: US Trade and Europe – A Country-by-Country Comparison (pages describing the economic impact of investment and trade with the United States for 31 countries in Europe)


In a global economy ravaged by surprises and shocks, the United States and Europe remain each other’s most important markets and geo-economic base. The transatlantic economy generates $6 trillion in total trade sales per year and employs up to 16 million workers in mutually “offshored” jobs on both sides of the Atlantic. It is the largest and richest market in the world, accounting for half of total global personal consumption and almost a third of global GDP in terms of purchasing power.

Ties are particularly strong in foreign direct investment (FDI), portfolio investment, bank claims, trade and affiliate sales of goods and services, digital ties, energy, mutual R&D investment, cooperation patents, technology flows and sales of knowledge-intensive services.

Despite the Covid-19 pandemic, inflationary challenges, congested supply chains and the war in Ukraine, both sides of the North Atlantic are poised for solid economic growth in 2022. Estimates for 2021 show the last year broke records on many fronts. :

  • Transatlantic merchandise trade hit a record high of $1.1 trillion in 2021.

  • Foreign direct investment (FDI) flows from the United States to Europe reached a record high of $253 billion;

  • Revenues from US foreign affiliates won in Europe reached about $300 billion, a record;

  • European subsidiaries in the United States earned a record $162 billion;

  • European FDI flows to the United States reached the highest levels since 2017, reaching around $235 billion.

  • 16 million

    The number of jobs supported by transatlantic trade and investment

  • $1.1 trillion

    2021 has seen record numbers in bilateral transatlantic trade in goods

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