Transport and storage sector has high importance in any economy as it serves to all major economic agents – companies (supply of materials and deliveries of final goods), households (getting to planned destinations, supply of goods etc.), government. Nowadays the production of commodities demand components from all over the world and the production supply process diversifies more and more, the evaluation of the importance of transport is relevant issue to be researched and investigated. The research is devoted to the assessment and evaluation of impact of transport and storage sector on economy (monetary impact) and in respect to the sustainability in the European Union (EU). As the research method the input-output model is selected as it illustrated the sectoral interlinkages – both direct linkages and also indirect interlinkages. In the research, a special attention is paid to the EU member states with highest share of transport and storage sector in the economy, the case of Latvia is analyzed in more detail.