EU28 surplus in trade in goods with the USA of 92 bn euro

STAT/14/47
24 March 2014
EU - USA Summit
EU28 surplus in trade in goods with the USA of
92 bn euro in 2013
Surplus of 14 bn in trade in services in 2012
The USA remained the EU's largest trading partner for both goods and services in 2013. However, there has been
a steady decline in the share of the USA in total EU28 international trade in goods over the last decade. While in
2002, the USA accounted for 28% of total EU28 exports and 20% of imports, by 2013 these shares had fallen to
17% and 12% respectively.
Share of the USA in EU28 exports and imports of goods, 2002-2013
30
25
20
15
10
5
Exports
Imports
0
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
After a significant decrease in 2009, the value of EU28 trade in goods with the USA recovered in the following
years to reach a peak value for exports of 293 billion euro in 2012, which then fell to 288 bn in 2013. Imports also
recovered to a peak value of 206 bn in 2012, and then fell to 196 bn in 2013. The EU28 trade surplus with the USA
has increased since 2009, as exports rose more strongly than imports. In 2013, the EU28 had a trade surplus of 92
bn with the USA, up slightly from 86 bn in 2012.
On the occasion of the European Union - USA summit, which will take place on 26 March in Brussels, Eurostat,
the statistical office of the European Union, issues data on trade and investments between the USA and the
EU.
Germany and the United Kingdom largest EU traders with the USA
Among the EU28 Member States, Germany (89 bn euro or 31% of EU exports of goods) remained in 2013 by far
the largest exporter to the USA, followed by the United Kingdom (44 bn or 15%), France and Italy (both 27 bn or
9%), Ireland and Belgium (both 18 bn or 6%) and the Netherlands (17 bn or 6%). Germany (37 bn or 19% of EU
imports of goods) remained also the largest importer in 2013, followed by the United Kingdom (35 bn or 18%), the
Netherlands1 (29 bn or 15%), France (27 bn or 14%) and Belgium1 (24 bn or 12%).
Most Member States recorded a surplus in trade with the USA in 2013. Germany (+52 bn euro) continued to have
the largest surplus, followed by Italy (+15 bn), Ireland (+13 bn) and the United Kingdom (+9 bn). The largest
deficits were observed in the Netherlands1 (-12 bn) and Belgium1 (-6 bn).
EU28 trade with the USA is dominated by manufactured goods, which accounted for 86% of exports and for 79%
of imports in 2013.
EU28 international trade in goods with USA and the world
billion euro
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
USA
Exports
248.0
227.4
235.7
250.8
267.0
259.6
248.1
203.8
242.7
264.1
292.8
288.0
Imports
182.9
158.4
159.7
159.2
170.7
177.4
182.8
155.3
173.4
192.0
206.5
196.0
Balance
65.1
69.0
76.0
91.6
96.4
82.2
65.3
48.5
69.3
72.1
86.3
92.0
Total Extra-EU28
Exports
885.3
861.7
945.2 1 049.5
1 152.4
1 234.3 1 309.1
1 094.0
1 353.2 1 554.3
1 683.1 1 732.9
Imports
937.0
935.2
1 027.4 1 183.9
1 364.6
1 446.8 1 585.2
1 235.6
1 532.1 1 728.3
1 798.3 1 683.4
Balance
-51.7
-73.5
-82.2
-134.4
-212.2
-212.5
-276.1
-141.7
-178.9
-174.1
-115.2
49.5
Exports
28.0%
26.4%
24.9%
23.9%
23.2%
21.0%
18.9%
18.6%
17.9%
17.0%
17.4%
16.6%
Imports
19.5%
16.9%
15.5%
13.4%
12.5%
12.3%
11.5%
12.6%
11.3%
11.1%
11.5%
11.6%
USA / Total
EU28 Member States' international trade in goods with USA
million euro
Exports
2012
EU28
Imports
2013
2012
Balance
2013
2012
2013
292 815
287 962
206 490
195 964
86 325
91 998
Belgium
20 540
18 137
21 786
23 723
-1 247
-5 587
Bulgaria
371
301
173
195
198
106
Czech Republic
2 788
2 657
1 598
1 509
1 189
1 148
Denmark
5 563
5 267
1 857
1 570
3 707
3 697
Germany
86 375
88 621
38 196
36 605
48 179
52 016
584
358
111
133
473
225
Ireland
17 897
18 218
6 382
4 918
11 514
13 300
Greece
1 031
935
572
504
459
431
Spain
9 016
8 675
8 306
8 591
710
84
France
27 033
27 220
26 435
26 650
598
570
Croatia
282
245
361
279
-79
-34
1
Estonia
26 640
27 023
12 660
11 541
13 980
15 482
Cyprus
45
54
73
43
-28
11
Latvia
114
120
95
83
19
37
Lithuania
347
682
245
308
102
375
Luxembourg
312
353
1 770
1 666
-1 457
-1 313
1 941
2 098
1 322
1 324
619
774
176
156
94
127
82
29
Italy
Hungary
Malta
1
20 498
17 348
28 803
28 944
-8 305
-11 596
Austria
6 639
6 693
2 753
2 846
3 886
3 847
Poland
2 811
3 359
2 704
2 847
107
512
Portugal
1 865
2 001
961
843
904
1 158
Romania
857
826
816
626
41
200
Netherlands
Slovenia
344
371
310
456
34
-85
Slovakia
1 169
1 164
297
256
872
908
Finland
3 605
3 559
1 327
1 346
2 277
2 213
Sweden
8 603
7 853
4 193
3 278
4 410
4 575
United Kingdom
45 371
43 668
42 289
34 753
3 082
8 915
Total Extra-EU28
1 683 087
1 732 928
1 798 279
1 683 443
-115 192
49 484
17.4%
16.6%
11.5%
11.6%
USA / Total
EU28 international trade in goods with USA by product
million euro
Exports
2012
Total
Imports
2013
2012
Balance
2013
2012
2013
292 815
287 962
206 490
195 964
86 325
91 998
Primary goods:
Food & drink
Raw materials
Energy
36 291
13 484
3 347
19 460
34 415
13 807
3 318
17 290
34 839
6 623
8 512
19 705
35 496
7 440
9 095
18 962
1 452
6 861
-5 165
-245
-1 081
6 367
-5 777
-1 672
Manufactured goods:
Chemicals
Machinery & vehicles2
Other manuf’d goods2
250 992
66 830
121 156
63 006
247 793
62 104
122 532
63 158
161 285
44 038
78 629
38 619
155 619
43 464
74 391
37 764
89 707
22 793
42 527
24 388
92 174
18 640
48 141
25 394
5 531
5 754
10 365
4 848
-4 834
905
Other
USA accounts for more than a quarter of EU28 trade in services
Both exports and imports of services between the EU28 and the USA increased significantly between 2010 and
2012. In 2012, the EU28 exported 164.8 billion euro of services to the USA, while imports amounted to 150.9 bn,
meaning that the EU28 had a surplus of 14.0 bn in trade in services with the USA, compared with a surplus of 2.9
bn in 2010 and of 6.9 bn in 2011. The surplus in 2012 was mainly due to surpluses in transportation (+10.7 bn),
financial services (+8.6 bn), insurance services (+7.2 bn) and computer & information services (+2.7 bn), partially
offset by deficits in royalties and license fees (-9.0 bn), other business services3 (-2.7 bn) and communication
services (-1.0 bn). The USA is still by far the EU28's largest partner, accounting for 25% of EU28 exports of
services and 30% of imports.
EU28 international trade in services with USA
million euro
Exports
Imports
2010
2011
2012
Total
of which:
Transportation
Travel
Other services
of which:
Communications services
Construction services
Insurance services
Financial services
Computer and information
services
Royalties and license fees
Other business services3
Personal cultural and
recreational services
Government services, n.i.e.
139 692
149 683
164 839
29 632
15 058
94 974
30 123
15 839
103 700
4 035
895
10 664
13 851
Total extra-EU28
USA / total extra-EU28
2010
Balance
2011
2012
2010
2011
2012
136 743
142 787
150 885
2 949
6 896
13 954
33 260
17 151
114 395
19 689
15 861
98 323
21 121
17 025
102 188
22 605
17 522
108 315
9 943
-802
-3 349
9 002
-1 185
1 512
10 655
-371
6 080
4 211
932
10 520
15 064
4 223
922
10 028
18 477
3 940
704
3 008
7 415
4 063
648
2 806
8 854
5 223
687
2 792
9 835
95
191
7 657
6 435
149
284
7 714
6 211
-1 000
235
7 236
8 642
8 148
8 952
11 270
6 763
7 248
8 559
1 386
1 703
2 711
11 434
42 209
13 967
45 844
14 877
49 874
23 123
48 551
22 922
51 436
23 847
52 579
-11 689
-6 342
-8 955
-5 592
-8 970
-2 705
2 063
2 579
2 881
2 759
2 569
2 759
-696
10
121
1 676
1 633
1 844
2 062
1 644
2 035
-386
-11
-191
564 877
608 993
661 927
456 113
478 052
508 548
108 764
130 941
153 379
24.7%
24.6%
24.9%
30.0%
29.9%
29.7%
High levels of EU FDI flows with the USA
EU Foreign Direct Investments (FDI) flows with the USA, whilst variable from year to year, have always been at
high levels. In 2012, EU28 FDI in the USA amounted to 53 billion euro, compared with 167 bn in 2011. US direct
investment into the EU28 accounted for 92 bn in 2012, compared with 264 bn in 2011.
EU28 FDI flows with USA
million euro
2005
2006
2007
EU28 FDI flows to the USA
32 682
95 206
172 963
USA FDI flows to the EU28
60 187
76 855
197 611
2008
2009
2010
2011
2012
125 940
93 203
59 061
167 315
53 289
38 846
112 892
77 642
264 371
91 544
1. Dutch imports and therefore the trade deficit are over-estimated because of the “Rotterdam effect” where goods destined for
the rest of the EU arrive and are recorded in harmonised EU external trade statistics in Dutch ports. This then has a positive
effect on the external trade balances with the USA of those Member States to which the goods are re-exported as these
shipments would be recorded as intra-EU trade with the Netherlands rather than extra-EU trade with the USA. To a lesser
extent, Belgian trade figures are similarly over-estimated.
2. Machinery and vehicles includes power generating and industrial machinery, computers, electric and electronic parts and
equipment, road vehicles and parts, ships, airplanes and railway equipment.
Other manufactured goods includes articles made of leather, rubber and wood, paper, textiles, metals, building fixtures
and fittings, furniture, clothes, shoes and accessories, scientific instruments, clocks, watches and cameras.
3. Other business services includes miscellaneous business, professional and technical services.
Published by:
Eurostat Press Office
Louise CORSELLI-NORDBLAD
Tel: +352-4301-33 444
[email protected]
Eurostat News Releases on the internet:
http://ec.europa.eu/eurostat
For further information on trade in goods data:
Gilberto GAMBINI
Tel: +352-4301-35 806
[email protected]
For further information on trade in services data:
Digna AMIL
Tel: +352-4301-32 321
[email protected]
For further information on FDI data:
Radoslav ISTAKOV
Tel: +352-4301-30 101
[email protected]

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