STAT/12/164
26 November 2012
International Trade in Services
EU27 surplus up to 121 bn euro in 2011
Financial and computer & information services contributed nearly half of the surplus
EU271 international trade in services2 increased in 2011, with EU27 exports of services to the rest of the world rising by 7%, from 567 billion euro in 2010 to 604 bn in 2011, and EU27 imports by 4%, from 464 bn to 483 bn. As a result, EU27 trade in services recorded a surplus of 121 bn in 2011, compared with +103 bn in 2010 and +83 bn in 2009. These data, issued by Eurostat, the statistical office of the European Union, are subject to revision3.
The surplus in 2011 was mainly due to surpluses in "other business services", which includes miscellaneous business, professional & technical services (+48 bn euro in 2011 compared with +44 bn in 2010), financial services (+29 bn in both 2011 and 2010), computer & information services (+26 bn compared with +23 bn), transportation (+21 bn in both 2011 and 2010), construction services (+11 bn in both 2011 and 2010) and insurance services
(+7 bn compared with +12 bn). These surpluses were partly offset by deficits in royalties & licence fees (-7 bn in 2011 compared with -11 bn in 2010) and travel (-5 bn compared with -13 bn).
In 2011, the EU27 recorded surpluses in trade in services with all its main partners. The highest surpluses were observed with the EFTA countries4 (+35 bn euro), Russia (+10 bn), China (+8 bn), Japan and Canada (both +6 bn) and the USA (+5 bn).
EU27 trade in services with the rest of the world
(bn euro)
| |||||||||||||||||||||||||||
Total Services | 512.2 | 429.1 | 83.0 | 566.6 | 463.6 | 103.0 | 603.9 | 482.9 | 121.0 | ||||||||||||||||||
Transportation | 109.9 | 89.9 | 20.0 | 131.2 | 110.3 | 20.9 | 135.1 | 114.2 | 20.8 | ||||||||||||||||||
Travel | 69.3 | 85.7 | -16.4 | 76.6 | 90.1 | -13.5 | 86.0 | 91.2 | -5.2 | ||||||||||||||||||
Other services | 332.6 | 240.1 | 92.5 | 358.4 | 249.4 | 109.0 | 382.7 | 263.4 | 119.2 | ||||||||||||||||||
Communications services | 12.8 | 13.2 | -0.3 | 15.6 | 14.7 | 0.9 | 17.2 | 15.3 | 2.0 | ||||||||||||||||||
Construction services | 19.7 | 9.9 | 9.8 | 18.7 | 8.1 | 10.6 | 19.2 | 8.2 | 11.0 | ||||||||||||||||||
Insurance services | 22.4 | 10.8 | 11.7 | 22.8 | 11.1 | 11.7 | 18.3 | 11.0 | 7.3 | ||||||||||||||||||
Financial services | 43.3 | 16.1 | 27.2 | 47.4 | 18.7 | 28.7 | 50.9 | 21.7 | 29.2 | ||||||||||||||||||
Computer & information services | 32.7 | 13.8 | 18.9 | 37.7 | 14.8 | 23.0 | 41.1 | 14.6 | 26.5 | ||||||||||||||||||
Royalties & license fees | 29.7 | 42.6 | -12.9 | 33.7 | 44.4 | -10.7 | 38.9 | 45.6 | -6.7 | ||||||||||||||||||
Other business services | 159.5 | 121.6 | 37.8 | 168.9 | 124.4 | 44.5 | 182.8 | 135.0 | 47.9 | ||||||||||||||||||
Personal, cultural & recreational services | 5.0 | 5.1 | -0.1 | 6.2 | 6.0 | 0.2 | 6.9 | 5.9 | 1.1 | ||||||||||||||||||
Government services, n.i.e. | 7.5 | 7.1 | 0.4 | 7.2 | 7.2 | 0.0 | 7.2 | 6.1 | 1.0 | ||||||||||||||||||
Quasi transit adjustment5 | 0.0 | 12.9 | -12.9 | 0.0 | 13.2 | -13.2 | 0.0 | 13.4 | -13.4 | ||||||||||||||||||
Services not allocated | 0.3 | 0.4 | -0.1 | 0.3 | 0.5 | -0.2 | 0.2 | 0.6 | -0.3 | ||||||||||||||||||
Source: Eurostat
EU27 trade in services by selected partner6
(bn euro)
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Total | 512.2 | 429.1 | 83.0 | 566.6 | 463.6 | 103.0 | 603.9 | 482.9 | 121.0 | ||||||||||||||||||
USA | 128.1 | 130.2 | -2.1 | 138.9 | 135.9 | 3.0 | 145.5 | 140.2 | 5.4 | ||||||||||||||||||
EFTA4 | 87.5 | 61.1 | 26.4 | 93.7 | 64.4 | 29.3 | 102.2 | 67.3 | 34.9 | ||||||||||||||||||
China | 19.0 | 14.1 | 4.9 | 23.9 | 17.3 | 6.6 | 26.2 | 18.3 | 7.9 | ||||||||||||||||||
Russia | 18.8 | 11.6 | 7.3 | 24.0 | 13.8 | 10.2 | 24.1 | 14.3 | 9.8 | ||||||||||||||||||
Japan | 18.6 | 13.4 | 5.3 | 19.8 | 15.3 | 4.6 | 21.8 | 15.9 | 5.9 | ||||||||||||||||||
Canada | 12.5 | 8.3 | 4.2 | 14.5 | 9.7 | 4.8 | 15.9 | 10.1 | 5.8 | ||||||||||||||||||
India | 9.3 | 7.6 | 1.8 | 11.0 | 9.1 | 1.8 | 11.4 | 10.8 | 0.6 | ||||||||||||||||||
Brazil | 9.7 | 6.2 | 3.5 | 9.9 | 6.4 | 3.4 | 11.5 | 7.1 | 4.3 | ||||||||||||||||||
Hong Kong | 7.6 | 6.8 | 0.8 | 9.2 | 7.6 | 1.6 | 9.8 | 8.2 | 1.6 | ||||||||||||||||||
Other countries | 201.0 | 169.9 | 31.1 | 221.6 | 184.0 | 37.6 | 235.4 | 190.7 | 44.7 | ||||||||||||||||||
Source: Eurostat
The EU27 includes: Belgium, Bulgaria, the Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden and the United Kingdom.
The services account covers all transactions occurring between resident and non-resident entities. Within the services account three main types of transactions are separately identified:
The transportation account covers all the transportation services performed by EU residents for non-EU residents, or vice versa, involving the carriage of passengers, the movement of goods, rentals of carriers with crew and related supporting and auxiliary services. The travel account includes primarily the goods and services EU travellers acquire from non-EU residents, or vice versa. Other services account includes communication services, construction services, insurance services, financial services, computer & information services, royalties & licence fees, other business services (which comprise merchanting & other trade-related services, operational leasing services and miscellaneous business, professional & technical services), personal, cultural & recreational services, government services not included elsewhere.
The EU27 annual international trade in services statistics are based on figures provided by the Member States to Eurostat nine months after the reference period. The annual data covered in this News Release will be revised in one year's time when revised data will be transmitted by Member States. The figures shown in the following tables may not exactly add up due to rounding. Due to different cut-off dates the annual figures presented in this News Release may differ from the sum of quarterly figures previously published.
EFTA (European Free Trade Association) includes Iceland, Liechtenstein, Norway and Switzerland.
Quasi transit trade is related to goods imported into an EU Member State from outside the EU, cleared by customs for free circulation, and then dispatched to a second EU Member State. In practice, branding policy may lead to the value of goods dispatched being much higher than the value of the goods that entered the first Member State. In order to balance the accounts, this increase in value is recorded as an import of services from outside the EU, under quasi transit adjustment.
The full geographical breakdown of the services account is available on the Eurostat web site. All figures can be downloaded from the balance of payments section of the Eurostat web site.
Issued by: Eurostat Press Office Louise CORSELLI-NORDBLAD Tel: +352-4301-33 444 eurostat-pressoffice@ec.europa.eu | For further information on data: Franca FAES-CANNITO Tel: +352-4301-33 394 franca.cannito@ec.europa.eu |
Eurostat news releases on the internet: http://ec.europa.eu/eurostat
