Communication from the Commission: Annual Report on the Single Market and Competitiveness 2024

The EU’s Single Market, one of the world’s largest integrated market areas, is at the heart of our competitiveness. With more than 440 million consumers and large economies of scale, it has made it possible for the EU to become the world’s largest trading bloc, with its companies accounting for a quarter of global exports of services and a fifth of high-tech goods, and a desirable destination for foreign investment. Its stable macroeconomic framework and high-quality infrastructure supports an investment-friendly business environment and is entrenched in and supports a strong social market economy model.