Brussels, 26/06/2014 (Agence Europe) - In 2013, the EU recorded a further increase in its surplus on trade in services - which now stands at €173 billion, Eurostat announced on Thursday 26 June.
In 2013, the EU28 recorded surpluses in its trade in services with all its main partners. The most significant surpluses were observed with Switzerland (€21 billion), Russia (€15 billion), the USA and China (€12 billion each), Japan (€9 billion), Brazil (€8 billion) and Canada (€6 billion). The USA was the biggest market for EU exports (€161 billion, or 23% of the total), followed by Switzerland (€83 billion, 12%), China (€32 billion, 5%), Russia (€29 billion, 4%) and Japan (€23 billion, 3%). The USA was also the main source of the EU's imports (€148 billion, or 29% of the total), ahead of Switzerland (€62 billion, 12%), China (€21 billion, 4%), Russia and Japan (€14 billion, 3% each).
The EU's international trade in services has grown considerably over the last decade. Its exports to third countries increased from €367 billion in 2004 to €684 billion in 2013, and its imports from €321 billion to €511 billion. The surplus in the EU's balance of services has virtually quadrupled in ten years, increasing from €45 billion to €173 billion. (EH)