The EU single market

The single market has added more than 2% of EU GDP and created 3 million new jobs since 1992, bringing growth, employment and prosperity to Europeans. It has grown from 12 million companies in 1999 to more than 21 million at present and brings together more than 500 million consumers - the world’s largest common market.

EU countries trade twice as much with each other as they would do without the single market. Our common market creates many new business opportunities, offers more choice and better prices to consumers, and is fundamental for European companies. It is also the springboard for successfully competing globally.

Yet, entrepreneurs still face many obstacles when wanting to operate across borders. Barriers to the free movement of people, goods, services and capital still represent an untapped economic potential of at least 5% of EU GDP. These remaining obstacles hamper growth and job creation and harm the competitiveness of European companies.