The most notable feature of EU-USA trade in goods over recent years has been the growth in the EU27 surplus, from 32 billion euro in 2000 to 80 bn in 2007. This increase in the surplus is due both to an increase in exports to the USA (from 238 bn in 2000 to 261 bn in 2007), and to a decrease in imports from the USA (from 206 bn to 181 bn). In relative terms, EU27 exports to the USA fell from 28% of total EU27 exports in 2000 to 21% in 2007 and imports declined from 21% to 13% over the same period. While the USA remains the largest export destination for the EU27, it has been overtaken as a source of imported goods by China.
EU trade with the USA is dominated by manufactured goods. In 2007, more than two-fifths of EU27 trade flows with the USA were machinery and vehicles, while chemicals and other manufactured articles each accounted for more than a fifth of imports and exports. At the detailed level, the main EU27 exports to the USA were motor cars, medicine, aircraft and engines, and crude and refined oil, while the main imports were aircraft and engines, motor cars and medicine.
Largest surpluses with the USA recorded by Germany, Italy and Ireland
Among the Member States, Germany was the largest exporter to the USA in 2007, with 73 bn euro, or 28% of the total, followed by the United Kingdom (45 bn or 17%), France (25 bn or 9%) and Italy (24 bn or 9%). The United Kingdom (39 bn or 22%) and Germany (35 bn or 19%) were also the largest importers, followed by the Netherlands (26 bn or 15%) and France (20 bn or 11%).
Most Member States recorded a surplus in trade with the USA in 2007, the largest being registered by Germany (+38 bn), Italy (+13 bn) and Ireland (+9 bn). The Netherlands (-9 bn) recorded the only significant deficit.
