European single market information

European single market
European single market
	EU member states Non-EU states which participate in the single market via the EEA or are in bilateral agreements with the EU; (see integration of non-EU states)
Policy of	European Union
Official languages	Languages of the European Union
Demonym(s)	European
Type	Single market
Member states	27 EU states Austria; Belgium; Bulgaria; Croatia; Cyprus; Czechia; Denmark; Estonia; Finland; France; Germany; Greece; Hungary; Ireland; Italy; Latvia; Lithuania; Luxembourg; Malta; Netherlands; Poland; Portugal; Romania; Slovakia; Slovenia; Spain; Sweden ; 4 (non-EU) EFTA states Iceland; Liechtenstein; Norway; Switzerland ;
Establishment	1 January 1993
Area
• Total	4,986,038 km2 (1,925,120 sq mi)
• EU	4,324,782 km2; (1,669,808 sq mi)
Population
• 2021 estimate	448,350,000
• EU 2021; estimate	441,350,000
GDP (nominal)	2020 estimate
• Total	US$16.3 trillion
• Per capita	US$39,537
Currency	Euro (EUR)

The European single market, also known as the European internal market or the European common market, is the single market comprising mainly the 27 member states of the European Union (EU). With certain exceptions, it also comprises Iceland, Liechtenstein, Norway (through the Agreement on the European Economic Area), and Switzerland (through sectoral treaties). The single market seeks to guarantee the free movement of goods, capital, services, and people, known collectively as the "four freedoms".^[2]^[3]^[4]^[5] This is achieved through common rules and standards that all participating states are legally committed to follow.

Any potential EU accession candidates are required to agree to association agreements with the EU during the negotiation which must be implemented prior to accession^{[citation needed]}. In addition, through three individual agreements on a Deep and Comprehensive Free Trade Area (DCFTA) with the EU, the post-Soviet countries of Georgia, Moldova, and Ukraine have also been granted limited access to the single market in selected sectors.^[6] Turkey has access to the free movement of some goods via its membership in the European Union–Turkey Customs Union.^[7] The United Kingdom left the European single market on 31 December 2020. An agreement was reached between the UK Government and European Commission to align Northern Ireland on rules for goods with the European single market, to maintain an open border on the island of Ireland.^[8]

The market is intended to increase competition, labour specialisation, and economies of scale, allowing goods and factors of production to move to the area where they are most valued, thus improving the efficiency of the allocation of resources. It is also intended to drive economic integration whereby the once separate economies of the member states become integrated within a single EU-wide economy.^[9] The creation of the internal market as a seamless, single market is an ongoing process, with the integration of the service industry still containing gaps.^[10] According to a 2019 estimate, because of the single market the GDP of member countries is on average 9 percent higher than it would be if tariff and non-tariff restrictions were in place.^[11]

^ "Report for Selected Countries and Subjects". www.imf.org.
^ "General policy framework". Europa web portal. Retrieved 1 December 2014.
^ "The European Single Market". Europa web portal. Retrieved 28 May 2016.
^ "Internal Market". European Commission. Retrieved 17 June 2015.
^ Barnard, Catherine (2013). "Competence Review: The Internal Market" (PDF). Department for Business, Innovation and Skills. Archived (PDF) from the original on 22 September 2013. Retrieved 17 June 2015.
^ Cite error: The named reference EEAS 1 was invoked but never defined (see the help page).
^ Cite error: The named reference Turkey EUCU was invoked but never defined (see the help page).
^ "Brexit Agreement". EU Commission.
^ European Commission. "A Single Market for goods". Europa web portal. Archived from the original on 21 June 2007. Retrieved 27 June 2007.
^ Completing the Single Market, European Commission
^ in ’t Veld, Jan (2019). "The economic benefits of the EU Single Market in goods and services". Journal of Policy Modeling. 41 (5): 803–818. doi:10.1016/j.jpolmod.2019.06.004.

[1] "Report for Selected Countries and Subjects". www.imf.org.

[Europa_Single_Market-2] "General policy framework". Europa web portal. Retrieved 1 December 2014.

[Europa_Single_Market_2016-3] "The European Single Market". Europa web portal. Retrieved 28 May 2016.

[4] "Internal Market". European Commission. Retrieved 17 June 2015.

[5] Barnard, Catherine (2013). "Competence Review: The Internal Market" (PDF). Department for Business, Innovation and Skills. Archived (PDF) from the original on 22 September 2013. Retrieved 17 June 2015.

[EEAS_1-6] Cite error: The named reference EEAS 1 was invoked but never defined (see the help page).

[Turkey_EUCU-7] Cite error: The named reference Turkey EUCU was invoked but never defined (see the help page).

[8] "Brexit Agreement". EU Commission.

[Europa_Single_Market_G-9] European Commission. "A Single Market for goods". Europa web portal. Archived from the original on 21 June 2007. Retrieved 27 June 2007.

[10] Completing the Single Market, European Commission

[11] ’t Veld, Jan (2019). "The economic benefits of the EU Single Market in goods and services". Journal of Policy Modeling. 41 (5): 803–818. doi:10.1016/j.jpolmod.2019.06.004.

European single market information

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European single market

Single market

Digital Single Market

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Single European Act

Digital Markets Act

Digital Services Act

Regions of Europe

Directive on Copyright in the Digital Single Market

European Free Trade Association

Europe

United Kingdom membership of the European Economic Area

European integration

European Committee for Standardization

Economy of the European Union

European Economic Community

European Union competition law

European Union Customs Union

Territorial supply constraints

European Common Aviation Area

United Kingdom Internal Market Act 2020

European Securities and Markets Authority

Agencies of the European Union

Special territories of members of the European Economic Area

E number

European Round Table for Industry

European Commission

European single market
EU member states Non-EU states which participate in the single market via the EEA or are in bilateral agreements with the EU (see integration of non-EU states)
Policy of	European Union
Official languages	Languages of the European Union
Demonym(s)	European
Type	Single market
Member states	27 EU states Austria Belgium Bulgaria Croatia Cyprus Czechia Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden 4 (non-EU) EFTA states Iceland Liechtenstein Norway Switzerland
Establishment	1 January 1993
Area
• Total	4,986,038 km² (1,925,120 sq mi)
• EU	4,324,782 km² (1,669,808 sq mi)
Population
• 2021 estimate	448,350,000
• EU 2021 estimate	441,350,000
GDP (nominal)	2020 estimate
• Total	US$16.3 trillion^[1]
• Per capita	US$39,537
Currency	Euro (EUR)

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