On the occasion of the 30th European Union - Russia summit, which will take place on 20 December in Brussels, Eurostat, the statistical office of the European Union, issues the latest data on trade and investments between Russia and the EU.
Germany accounts for about a third of EU27 exports to Russia and a fifth of imports from Russia
Among the EU27 Member States, Germany (28.2 bn euro or 31% of EU exports) was by far the largest exporter to Russia in the first nine months of 2012, followed by Italy (7.3 bn or 8%), France (7.0 bn or 8%) and the Netherlands (6.1 bn or 7%). Germany (29.6 bn or 19% of EU imports) was also the largest importer, followed by the Netherlands1 (22.1 bn or 14%), Poland (15.8 bn or 10%), Italy (13.9 bn or 9%) and France (8.7 bn or 6%).
Eighteen Member States recorded deficits in trade with Russia in the first nine months of 2012, the largest being observed in the Netherlands1 (-15.9 bn euro), Poland (-10.2 bn), Italy (-6.6 bn) and Spain (-3.9 bn). Surpluses were modest, the highest being recorded in Denmark (+0.7 bn).
Just over 85% of EU27 exports to Russia in the first nine months of 2012 were manufactured goods, while energy accounted for more than three quarters of imports.
EU27 surplus of 10 bn in trade in services with Russia in 2011
EU27 exports of services with Russia remained nearly stable between 2010 and 2011, while imports rose slightly. In 2011, the EU27 exported 24.1 bn euro of services to Russia, while imports amounted to 14.3 bn, meaning that the EU27 had a surplus of 9.8 bn in trade in services with Russia, compared with +7.3 bn in 2009 and +10.2 bn in 2010. The surplus in 2011 was mainly due to surpluses for travel (+5.9 bn), computer & information services (+1.5 bn) and financial services (+1.4 bn), partially offset by a deficit in transportation (-1.4 bn). Russia accounted for 3.5% of total extra-EU27 trade in services.
Strong decline of FDI flows between the EU27 and Russia in 2011
EU27 Foreign Direct Investment (FDI) into Russia fell from 26.4 bn euro in 2008 to 9.0 bn in 2009, increased to 25.5 bn in 2010, and then fell again to 6.3 bn in 2011, while Russian direct investment into the EU27 increased from 2.0 bn in 2008 to 12.4 bn in 2009, then decreased to 7.1 bn in 2010 and fell further to 0.3 bn in 2011.