The EU is strongly integrated into global trade flows. The five largest EU economies – Germany, France, Italy, Spain and the UK – represent nearly one fifth of world trade. Small and medium-sized enterprises (SMEs) also contribute to EU exports and imports. Yet, their role in international trade is much smaller than their weight on the domestic market, as a joint study of KfW Research and Europe's national promotional banks Bpifrance, CDP, ICO and the British Business Bank shows. The obstacles are diverse. For many SMEs, financing their cross-border activities is a major challenge. Fostering the internationalisation of European SMEs requires effort – both at national and European level.

Internationalisation of European SMEs – Taking Stock and Moving Ahead(PDF, 2 MB, non-accessible)