Archive:Extra-EU trade in goods
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- Data from August 2009, most recent data: 2008 Further Eurostat information, Main tables and Database.
Between 2000 and 2008, EU imports were consistently higher than exports, due mainly to an increasing trade deficit in the energy sector. In 2008, the total EU-27 trade deficit reached a record level of EUR 242.1 billion. The United States was by far the most important trading partner for EU-27 exports in 2008, in spite of a slight fall compared to the previous year. Russia recorded a growth rate of 18% for 2007-2008 and overtook Switzerland to become the second largest trading partner for EU-27 exports. China was the most important trading partner for imports to EU-27. Together, China, the United States and Russia accounted for 39% of imports from outside EU-27 in 2008. Germany remained the largest contributor to EU-27 external trade among the Member States, with more than one fifth of total extra EU-27 trade. Imports of machinery and transport equipment, as well as of other manufactured products, decreased during 2007-2008. Still, these product groups accounted for half the imports from outside EU-27. Petroleum products were by far the most traded product group during 2008, with values of trade boosted by increasing prices. Cars and electrical machinery followed.
Main statistical findings
Every year between 2000 and 2008, the value of EU imports was higher than the value of exports, due mainly to increasing deficits in the energy sector. In 2008, the EU-27 trade deficit reached the record level of EUR 242.1 billion. Total EU trade with the rest of the world rose by more than half from 2000 to 2008. While there was little movement between 2000 and 2003, both exports to and imports from outside the EU rose steadily from 2004 to 2008. The growth of EU-27 trade in 2008 was concentrated in the first three quarters of the year, with a reduction during the last quarter (-2.1% in comparison with the last quarter of 2007). However, imports fell more rapidly than exports in the period, resulting in a decreased trade deficit
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