90 billion Euros of EU surplus in trade with US

In the year 2006 the EU of the 27 member states generated a trade surplus amounting to more than 90 billion Euros in their business with the US. This figure was published today by Eurostat, the Statistical Office of the EU, on the occasion of the EU-US summit taking place today in Washington DC.

Taking into account the entire trade in goods and services between the EU and the US the bilateral trade relations between these two economic blocks are the most important worldwide. Within the EU of the 27 the most important trade partners of the US are Germany and Great Britain. In 2006 the EU27 exported goods to the total value of 269 billion Euros to the USA, while imports from the US to the EU27 amounted to 178 billion Euros. What is remarkable with regard to the development of the trade between the EU27 and the USA over recent years is the steady increase in the EU trade surplus which rose from 32 billion to 91 billion Euros in the period from 2000 to 2006.

With a share of 28% (76 billion Euros) in the EU27´s total amount of exports to the US, Germany was the most important exporter in 2006, followed by Great Britain (46 billion Euros or 17%). Most important importers were once again Great Britain (39 billion or 22%) and Germany (37 billion or 21%). Most EU member states generated a surplus in their trade with the US in 2006. These were biggest for Germany (40 billion), Italy (14 billion) and Ireland (10 billion). GERMAN