Germany, Italy and France accounted for half of EU27 exports to Russia
Among the EU27 Member States, Germany (34.3 bn euro or 32% of EU exports) was by far the largest exporter to Russia in 2011, followed by Italy (9.3 bn or 9%) and France (7.5 bn or 7%). Germany (38.0 bn or 19% of EU imports) was also the largest importer, followed by the Netherlands (25.8 bn or 13%), Poland (18.1 bn or 9%), Italy (18.0 bn or 9%) and France (13.2 bn or 7%).
Most Member States recorded deficits in trade with Russia in 2011, the largest being observed in the Netherlands (-18.7 bn euro), Poland (-12.0 bn), Italy (-8.7 bn), France and Spain (both -5.8 bn) and Finland (-5.7 bn). The highest surpluses were recorded in Latvia (0.7 bn) and Slovenia (0.6 bn).
Just over 85% of EU27 exports to Russia in 2011 were manufactured goods, while energy accounted for more than three quarters of imports.
EU27 surplus of 12 bn in trade in services with Russia in 2011
EU27 exports of services with Russia increased between 2010 and 2011, while imports remained almost stable. In 2011, the EU27 exported 25.4 bn euro of services to Russia, while imports amounted to 13.6 bn, meaning that the EU27 had a surplus of 11.8 bn in trade in services with Russia, compared with +7.8 bn in 2009 and +9.6 bn in 2010. The surplus in 2011 was mainly due to surpluses for travel (+5.8 bn), other business services (+3.0 bn), computer & information services (+1.5 bn) and financial services (+1.2 bn), partially offset by a deficit in transportation (-1.2 bn). Russia accounted for almost 4% 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 8.3 bn in 2009, increased to 18.6 bn in 2010, then turned into a disinvestment of 2.3 bn in 2011, while Russian direct investment into the EU27 increased from 2.0 bn in 2008 to 11.3 bn in 2009, decreased to 7.0 bn in 2010 and fell further to 1.4 bn in 2011.