The EU27 has a structural, but decreasing, surplus in trade in goods with the USA. This surplus rose steadily from 32 billion euro in 2000 to a peak of 94 bn in 2006, but has fallen for the last two years, to reach 63 bn in 2008. In the first half of 2009, the EU27 trade surplus with the USA continued to fall, reaching 16 bn, compared with 33 bn in the same period of 2008.

On the occasion of the European Union – USA summit, which will take place on the 3rd of November in Washington DC, Eurostat, the Statistical Office of the European Communities, has issued this data on trade and investments between USA and the EU.

The USA accounts for 20% of EU27 exports of goods and 14% of imports

Between 2000 and 2008, the value of EU27 exports of goods to the USA grew by 5%, while imports fell by 9%. In the first half of 2009, the value of EU27 exports to the USA fell to 101 bn compared with 127 bn in the first half of 2008, and imports decreased to 85 bn from 94 bn. In relative terms, the share of the USA in the EU27’s total external trade in goods has decreased between 2000 and 2008. EU27 exports to the USA fell from 28.0% of total EU27 exports in 2000 to 19.1% in 2008, and imports declined from 20.8% to 11.9% over the same period. In the first half of 2009, the share of the USA in the EU27’s total trade was 19.5% for exports and 14.4% for imports. The USA remained the EU27’s most important trading partner.

More than one third of EU27 exports to the USA in the first half of 2009 were machinery and vehicles, one fourth chemicals and one fifth other manufactured goods. Machinery and vehicles accounted for 40% of imports and chemicals and other manufactured goods for one fifth each.

Largest surpluses with the USA recorded by Germany, Ireland and Italy

Among the EU27 Member States, Germany (27 bn euro or 27% of EU exports of goods) was by far the largest exporter to the USA in the first half of 2009, followed by the United Kingdom (17 bn or 17%), France (10 bn or 10%), Ireland and Italy (9 bn or 9% each). The United Kingdom (18 bn or 21% of EU imports) was the largest importer, followed by Germany (15 bn or 18%), the Netherlands (13 bn or 15%) and France (10 bn or 12%).

Germany (+12 bn euro) recorded the largest surplus in trade with the USA in the first half of 2009, followed by Ireland (+5 bn) and Italy (+4 bn). The largest deficit was observed in the Netherlands (-6 bn), followed by Spain, France and the United Kingdom (all -1 bn).

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