EU trade in services continued to rise strongly in 2015 but total surplus down for a second consecutive year

EU News 206/2016

9 June 2016

The international trade in services of the European Union (EU) has increased steadily and significantly over the last six years. EU exports of services to the rest of the world rose by 42%, from €569.5 billion in 2010 to €811.2 bn in 2015, while imports grew slightly more rapidly (+43%) from €461.6 bn to €660.5 bn. As a consequence, the EU trade surplus in services, which had steadily increased between 2010 and 2013, has decreased for the second consecutive year in 2015 to €150.7 bn.

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In 2015, the main partners for EU exports of services remained the United States (€212.1 billion, or 26% of extra- EU exports) and Switzerland (€116.3 bn, 14%), well ahead of China (€36.0 bn, 4%), Japan (€27.9 bn, 3%) and Russia (€24.3 bn, 3%). The main partner for EU imports of services also continued to be the United States (€202.8 bn, 31% of extra-EU imports), followed by Switzerland (€68.0 bn, 10%), China (€25.7 bn, 4%), Japan (€15.6 bn, 2%) and India (€13.7 bn, 2%).

In 2015, the EU recorded surpluses in trade in services with all its main partners, except Hong Kong (-€1.0 bn). The largest surplus was observed by far with Switzerland (€48.3 billion), followed by Russia (€12.6 bn), Japan (€12.3 bn), China (€10.3 bn) and the United States (€9.3 bn).

Source and additional information:
http://ec.europa.eu/eurostat/documents/2995521/7457539/2-09062016-AP-EN.pdf/c17408f6-3a97-4955-8114-c1bfd607a4b8

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