An EU27 surplus in trade in goods with the USA of more than 80 bn euro in 2007
Taking goods and services together, the EU and the USA account for the largest bilateral trade relationship in the world, the significant amount of bilateral trade and investment illustrates a
high degree of interdependence of the two economies.
On the occasion of the European Union – USA summit, which will take place on Tuesday 10 June in Brdo in Slovenia, Eurostat, the Statistical Office of the European Communities, issues data on
trade and investments between the USA and the EU.
USA: 21% of EU exports of goods and 13% of imports
The most notable feature of EU-USA trade in goods over recent years has been the growth in the EU27 surplus, from 32 billion euro in 2000 to 80 bn in 2007. This increase in the surplus is due
both to an increase in exports to the USA (from 238 bn in 2000 to 261 bn in 2007), and to a decrease in imports from the USA (from 206 bn to 181 bn). In relative terms, EU27 exports to the USA
fell from 28% of total EU27 exports in 2000 to 21% in 2007 and imports declined from 21% to 13% over the same period. While the USA remains the largest export destination for the EU27, it has
been overtaken as a source of imported goods by China.
EU trade with the USA is dominated by manufactured goods. In 2007, more than two-fifths of EU27 trade flows with the USA were machinery and vehicles1, while chemicals and other manufactured
articles1 each accounted for more than a fifth of imports and exports. At the detailed level, the main EU27 exports to the USA were motor cars, medicine, aircraft and engines, and crude and
refined oil, while the main imports were aircraft and engines, motor cars and medicine.
Largest surpluses with the USA recorded by Germany, Italy and Ireland
Among the Member States, Germany was the largest exporter to the USA in 2007, with 73 bn euro, or 28% of the total, followed by the United Kingdom (45 bn or 17%), France (25 bn or 9%) and Italy
(24 bn or 9%). The United Kingdom (39 bn or 22%) and Germany (35 bn or 19%) were also the largest importers, followed by the Netherlands2 (26 bn or 15%) and France (20 bn or 11%).
Most Member States recorded a surplus in trade with the USA in 2007, the largest being registered by Germany ( 38 bn), Italy ( 13 bn) and Ireland ( 9 bn). The Netherlands2 (-9 bn) recorded the
only significant deficit.