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EU trade in services with the USA

09/01/2018

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The USA is the main EU partner for international trade in services. In 2016, it accounted for 26% of the EU total exports and 31% of EU imports of services.

The steady growth of the EU exports of services to the USA was reversed in 2016 where it fell from €223 bn in 2015 to €218 bn euro in 2016. The imports continued to grow – from €205 bn in 2015 to €219 bn in 2016. After five consecutive years of surplus, the trade balance with the USA turned into a deficit.

 

EU trade in services with the USA

The source dataset is here

 

Largest growth in exports of insurance and pension services

The most exported service from the EU to the USA is "Other business services" (€69 bn or 31% of the total EU exports of services to the USA in 2016). This includes "Research and development services" (€18 bn), "Professional and management consulting services" (€24 bn) and "Technical, trade-related and other business services" (€27 bn). Other main export categories are "Transport" (€30 bn or 14%), "Financial services" and "Telecommunications, computer, and information services" (each €28 bn or 13%).

Compared with 2015, exports of "Maintenance and repair services" (+14.6%) and "Telecommunications, computer, and information services" (+11%) have grown the most.

The largest decrease of exports has been registered in "Insurance and pension services" (-31%), followed by “Manufacturing services on physical inputs owned by others” (-20%) and "Transport" (-10%).

 

Largest growth in imports of government goods and services

Also the imports from the USA are dominated by "Other business services" (€90 bn or 41% of the total EU imports of services from the USA in 2016). The next largest services categories for imports from the USA are "Charges for the use of intellectual property " (€34 bn or 1%), "Travel" (€24 bn or 11%) and "Transport" (€22 bn or 10%).

Compared with 2015, imports of "Government goods and services" (+26%), "Telecommunications, computer, and information services" and "Other business services" (both +15%) have grown the most.

The largest decrease of imports has been registered in "Personal, cultural, and recreational services" (-28%), followed by "Construction" (-20%) and "Insurance and Pension Services" (-8%).

The source dataset is available here