The USA remains the EU's largest trading partner for both goods and services, and there are also significant investment flows between the two partners. However, a steady decline of the share of the USA in total EU27 trade in goods has been observed over recent years. In 2000, the USA accounted for 28% of total EU27 exports, compared with 19% in 2009. The share of USA in total EU27 imports also fell over this period, from 21% in 2000 to 12% in 2008, before recovering slightly to 13% in 2009.

On the occasion of the European Union - USA summit, Eurostat, the statistical office of the European Union, issues data on trade and investments between the USA and the EU.

Recovery of EU exports in the first half of 2010

The value of EU27 exports of goods to the USA increased from 238 billion euro in 2000 to a peak of 269 bn in 2006 and then fell in the following years to reach 206 bn in 2009. The value of EU27 imports from the USA decreased from 206 bn in 2000 to 158 bn in 2003, then increased to 187 bn in 2008 and fell again to 159 bn in 2009. In consequence, the EU27 surplus in trade with the USA increased from 32 bn in 2000 to a peak of 94 bn in 2006 and then decreased steadily, to reach 46 bn in 2009.

Between the first half of 2009 and the first half of 2010, there was a recovery in EU27 exports to the USA, from 102 bn to 114 bn, while imports continued to fall, from 85 bn to 82 bn. As a result, the EU27 surplus in trade in goods with the USA rose from 17 bn in the first half of 2009 to 32 bn in the first half of 2010.

Machinery and vehicles accounted for almost 40% of EU27 exports to the USA in the first half of 2010, followed by chemicals with one quarter and other manufactured goods1 with one fifth. Machinery and vehicles also accounted for 40% of imports, while chemicals and other manufactured goods represented around one fifth each.

Largest surpluses recorded by Germany, Ireland, Italy and the UK

Among the EU27 Member States, Germany (30 bn euro or 27% of EU exports of goods) was by far the largest exporter to the USA in the first half of 2010, followed by the United Kingdom (18 bn or 16%), France (11 bn or 10%), Italy (10 bn or 9%), Ireland and Belgium (both 9 bn or 8%). Germany and the United Kingdom were the largest importers (15 bn or 18% of EU imports each), followed by the Netherlands (13 bn or 16%) and France (10 bn or 12%).

Germany (+16 bn euro) recorded the largest surplus in trade with the USA in the first half of 2010, followed by Ireland (+5 bn), Italy and the United Kingdom (both +4 bn). The largest deficit was observed in the Netherlands (-5 bn), followed by Spain (-0.6 bn) and Greece (-0.5 bn).

USA: 25% of EU exports of services and 31% of imports in 2009

In 2009, the EU27 exported 118 bn euro of services to the USA, while imports amounted to 125 bn, meaning that the EU27 had a deficit of 7 bn in trade in services with the USA, compared with surpluses of 8 bn in 2007 and 3 bn in 2008. The deficit in 2009 was mainly due to deficits in royalties and license fees (-14 bn) and other business services (-9 bn), partially compensated by surpluses in transportation (+9 bn), insurance services and financial services (+6 bn each). The USA is still by far the EU27's largest partner, accounting for 25% of EU27 exports of services and 31% of imports.

Recovery of US direct investment into the EU27 in 2009

EU27 Foreign Direct Investment (FDI) in the USA rose from 33 bn euro in 2005 to a peak of 169 bn in 2007 and then fell to 149 bn in 2008 and 64 bn in 2009. US direct investment into the EU27 increased from 60 bn in 2005 to a peak of 198 bn in 2007, fell to 40 bn in 2008, then rose to 90 bn in 2009.