The European Union (EU) is a political and economic union composed of 27 European countries. The European Union is one of the largest economic entities in the world, its economic aggregate accounts for about 16% of the global total, and it is one of the largest trading areas in the world.

The EU's economic system is a highly developed market economy whose economic activities are mainly dependent on services and industry. The EU's service industry is one of the most developed in the world, and its output value accounts for about 70% of the EU's gross domestic product (GDP). The EU's industrial sector covers many different industries, including automotive, machinery, chemicals, electronics and aerospace.

According to the economic data of the European Union, as of 2021, the total GDP of the European Union is about 15.2 trillion euros, creating about 170 million job opportunities every year. Among them, Germany, France, Italy and Spain are the four largest economies in the EU. The EU's GDP per capita is around €32,500, one of the highest in the world.

The EU's trade is also one of the largest in the world. The EU's total exports are around 2.4 trillion euros, with the largest export markets being the US, China and Switzerland. The EU's total imports are about 2.5 trillion euros, and the largest sources of imports are China, the United States and Russia.

The EU is also one of the world's largest sources of direct foreign investment, with a stock of approximately EUR 7.8 trillion. Major EU investment destinations include countries such as the US, China and Switzerland.

In conclusion, the EU is an economically powerful union whose economic activities have a significant impact on the global economy. Although the EU's economy has faced some challenges in the past few years, the EU is striving to achieve sustainable economic growth and stable development.