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EU27 External Trade in Services Rose by 10% in 2010
added: 2011-11-30

In 2010, EU27 external trade in services recovered compared with 2009 to reach levels equal or above those of 2008. EU27 exports of services to the rest of the word rose by 11%, from 484 billion euro in 2009 to 539 bn in 2010, and EU27 imports increased by 9%, from 416 bn to 454 bn. As a result, EU27 trade in services recorded a higher surplus of +85 bn in 2010, compared with +67 bn in 2009 and +71 bn in 2008.

The surplus in 2010 was mainly due to surpluses in "other business services", which includes miscellaneous business, professional & technical services (+40 bn euro in 2010 compared with +33 bn in 2009), financial services (+27 bn compared with +26 bn), computer & information services (+23 bn compared with +19 bn) and transportation (+20 bn in both 2010 and 2009), partly offset by deficits in travel (-14 bn compared with -17 bn) and royalties and licence fees (-12 bn compared with -13 bn).

In 2010, the EU27 recorded relatively stable or slightly higher surpluses in trade in services compared with 2009 with all its main partners. The highest surpluses were observed with the EFTA countries3 (+27 bn euro), Russia (+9 bn), China (+6 bn), Japan (+5 bn), Brazil and Canada (both +4 bn). Among the main partners, the only deficit was recorded with the USA (-4 bn).

Source: Eurostat

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