Almost a third of EU trade in services with the United States in 2014
EU News 158/2015
Brussels, 11 June 2015
The international trade in services of the European Union (EU) has increased significantly over the last five years. EU exports of services to the rest of the world rose by 29%, from €568.7 billion in 2010 to €734.8 bn in 2014, while imports grew only slightly more slowly (+27%) from €458.0 bn to €583.4 bn. As a consequence, the EU trade surplus in services has steadily increased between 2010 and 2013, from €110.7 bn to €178.1 bn, before decreasing to €151.4 bn in 2014.
In 2014, the main partner for EU exports of services was the United States (€193.6 billion, or 26% of extra-EU exports), well ahead of Switzerland (€103.5 bn, 14%), China (€31.7 bn, 4%), Russia (€28.9 bn, 4%) and Japan (€25.6 bn, 3%). The main partner for EU imports of services was also the United States (€182.0 bn, 31% of extra-EU imports), followed by Switzerland (€65.7 bn, 11%), China (€22.6 bn, 4%), Japan (€15.3 bn, 3%), Russia (€12.4 bn, 2%) and Canada (€11.3 bn, 2%).
In 2014, the EU recorded surpluses in trade in services with all its main partners, except Hong Kong (-€0.2 bn). The largest surplus was observed by far with Switzerland (€37.8 billion), followed by Russia (€16.4 bn), the United States (€11.6 bn), Japan (€10.3 bn) and China (€9.2 bn).
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File Image: A graffiti illustrating symbolically with a hanshake the sixth priority of the Juncker's Commission: A reasonnable and balanced free trade agreement with the US Date: 09/04/2015 Reference: P-027639/00-21 Location: Paris (C) EU, 2015 URL