Eurostat: EU Exports of Services to Countries outside of the EU Valued at €945 Billion

World » EU | February 25, 2020, Tuesday // 10:15| Views: | Comments: 0
Bulgaria: Eurostat: EU Exports of Services to Countries outside of the EU Valued at €945 Billion www.pixabay.com

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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Tags: eurostat, EU, US, UK, imports, trade
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