International trade in services EU surplus up to 121 bln euro in 2011

EU27 international trade in services increased in 2011, with EU27 exports of services to the rest of the world rising by 7%, from 567 billion euro in 2010 to 604 bn in 2011, and EU27 imports by 4%, from 464 bn to 483 bn. As a result, EU27 trade in services recorded a surplus of 121...

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International trade in services EU surplus up to 121 bln euro in 2011



Eurostat - 27.11.2012

EU27 international trade in services increased in 2011, with EU27 exports of services to the rest of the world rising by 7%, from 567 billion euro in 2010 to 604 bn in 2011, and EU27 imports by 4%, from 464 bn to 483 bn. As a result, EU27 trade in services recorded a surplus of 121 bn in 2011, compared with +103 bn in 2010 and +83 bn in 2009. These data, issued by Eurostat, the statistical office of the European Union, are subject to revision.

The surplus in 2011 was mainly due to surpluses in "other business services", which includes miscellaneous business, professional & technical services (+48 bn euro in 2011 compared with +44 bn in 2010), financial services (+29 bn in both 2011 and 2010), computer & information services (+26 bn compared with +23 bn), transportation (+21 bn in both 2011 and 2010), construction services (+11 bn in both 2011 and 2010) and insurance services (+7 bn compared with +12 bn). These surpluses were partly offset by deficits in royalties & licence fees (-7 bn in 2011 compared with -11 bn in 2010) and travel (-5 bn compared with -13 bn).

In 2011, the EU27 recorded surpluses in trade in services with all its main partners. The highest surpluses were observed with the EFTA countries (+35 bn euro), Russia (+10 bn), China (+8 bn), Japan and Canada (both +6 bn) and the USA (+5 bn).

Source: bne


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