EU27 exports to Canada up but imports to EU27 fall
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Between 2000 and 2009, EU27 exports of goods to Canada grew from 21.1 billion euro to 22.4 bn, while EU27 imports from Canada fell from 19.0 bn to 17.8 bn. As a result, the EU27 surplus in trade with Canada grew from 2.1 bn in 2000 to 4.7 bn in 2009, while the share of Canada in the EU27’s total external trade in goods has fallen. In 2009, Canada accounted for 2.0% of EU27 exports and 1.5% of EU27 imports, and was the EU27’s eleventh most important trading partner.
Germany has largest surplus and United Kingdom largest deficit
Among the EU27 Member States, Germany (5.2 bn euro or 23% of the total) was the largest exporter to Canada in 2009, followed by the United Kingdom (4.4 bn or 20%), France (2.4 bn or 11%) and Italy (2.1 bn or 9%). The United Kingdom (5.8 bn or 33%) was by far the largest importer, followed by Germany (2.5 bn or 14%) and France (1.9 bn or 11%). The largest surpluses were observed in Germany (+2.6 bn) and Italy (+0.9 bn), while the largest deficit was registered in the United Kingdom (-1.4 bn).
In 2009, just over a third of EU27 exports to Canada were machinery and vehicles, while chemicals and other manufactured articles each accounted for around a fifth of exports. Machinery and vehicles made up more than a quarter of imports, while other manufactured articles accounted for around a fifth. At the detailed level, the main EU27 exports to Canada were medicine, motor cars, aircraft engines and crude and refined oil, while the main imports were aircraft, diamonds, iron ore, medicine and natural uranium.
Decline in trade in services with Canada
In 2009, the EU27 exported 10.6 bn euro of services to Canada, while imports of services from Canada amounted to 8.2 bn, meaning that the EU27 had a surplus of 2.5 bn in trade in services with Canada, compared with a surplus of 2.2 bn in both 2007 and 2008. The surplus in 2009 was mainly due to transportation (+0.9 bn), travel and financial services (both +0.7 bn). Canada accounted for just over 2% of total extra-EU27 trade in services.
Foreign Direct Investment Foreign Direct Investment (FDI) flows between the EU27 and Canada showed large variations, with EU27 investments in Canada of 41.3 bn euro in 2007, 10.1 bn in 2008 and 2.8 bn in 2009, and Canadian investment into the EU27 of 9.1 bn in 2007, 22.1 bn in 2008 and 11.4 bn in 2009.
On the occasion of the European Union – Canada summit, which will take place on Wednesday 5 May 2010 in Brussels, Eurostat, the statistical office of the European Union, issued this data on trade and investments between the EU and Canada.