EU-27 trade with the NAFTA in 2007 - Issue number 104/2008 - Products Statistics in Focus

In 2007, the European Union's (EU-27) trade in goods with North-American Free Trade Agreement (NAFTA) countries registered exports with a total value of EUR 308.5 billion against imports worth EUR 216.4. Although the EU's trade balance remained largely positive (EUR 92 billion), a significant decrease of 16% was registered between 2006 and 2007. This was the first decrease since 2000. Among the three NAFTA countries, the USA remained by far the main EU partner, accounting for 85% of EU exports to, and 84 % of EU imports from NAFTA countries. Trade with Mexico has developed rapidly: EU exports increased by an average 5.6% and EU imports by 7.0% between 2000 and 2007; trade with Canada remained more important in absolute terms but increased less strongly over the same period (3%, both for exports and imports). Germany and the UK are the main EU partners for the NAFTA countries. The trade balance was positive (or only slightly negative) in all EU countries except for the Netherlands where the deficit amounted to EUR 9.3 billion. The highest trade surplus was registered by Germany (EUR 45.1 billion). Manufactured goods were the most traded (83% of total trade), especially ‘Machinery and vehicles' (42% of the total).