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In 2018, EU exports of services to countries outside of the EU were valued at €945 billion, while extra-EU imports were valued at €795 billion. Over the last decade, EU ran a trade surplus for services, with a peak in 2018 at €149 billion, Eurostat data showed.
In recent years, there has been a rapid increase in the value of world trade in services. This pattern was also observed across the EU, with the value of exports increasing overall by 73% over the last decade and the value of imports by 59%.
USA and the UK: leading trade partners
In 2018, the EU’s leading trade partners for services were the United States and the United Kingdom. The United States was the destination for almost a fifth (19%) of the services exported from the EU Member States and was the origin of almost a quarter (24%) of the services imported into the EU from non-member countries. The United Kingdom closely followed (21% of extra-EU exports and 20% of extra-EU imports of services), ahead of Switzerland (11%, 7%).
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Eurostat data indicates that Greece (161.9%), Italy (137.3%), France (110.6%), Spain (107.7%), and Belgium reported the highest public debt-to-GDP ratios among EU member states by the conclusion of 2023
A damning report from the US State Department has unveiled a troubling reality of systematic racial and ethnic violence and discrimination against Bulgarians in the Republic of North Macedonia
The US Senate has overwhelmingly approved a substantial aid package totaling 95 billion USD, aimed at supporting key American allies, including Ukraine, Israel, and Taiwan.
The debate surrounding the inclusion of Bulgarians in North Macedonia's constitution, a crucial precondition for the country's European Union accession talks, has taken center stage in the ongoing presidential campaign
Tensions flare across America's prestigious university campuses as pro-Palestinian demonstrations intensify, sparking clashes with authorities and raising concerns about campus safety and freedom of expression
Opposition parties critical of President Maia Sandu's pro-European stance have joined forces in Moscow, forming a pre-election bloc with ambitions to contest upcoming presidential elections and a pivotal referendum on EU membership
The European Parliament has approved the EU's inaugural directive aimed at regulating the employment rights of individuals working through online platforms
As the Hungarian forint experiences volatility, German investors are increasingly advocating for Hungary to adopt the euro, reaching the highest level of support in over a decade
Eurostat data indicates that Greece (161.9%), Italy (137.3%), France (110.6%), Spain (107.7%), and Belgium reported the highest public debt-to-GDP ratios among EU member states by the conclusion of 2023
Concerns are mounting within the European Parliament regarding potential Russian interference in the forthcoming parliamentary elections, coupled with apprehensions surrounding Russian-owned properties in Bulgaria
A dire situation looms over European airspace as thousands of passenger planes, predominantly ferrying tourists, find themselves ensnared in a perilous web of Russian jamming attacks, leaving them disoriented and vulnerable mid-flight.
In a significant affirmation of Bulgaria's path towards Eurozone accession, European Commissioner for Economy Paolo Gentiloni has confirmed the European Commission's support for Bulgaria's admission to the Eurozone in 2025
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